Sundaram BNP Paribas Home Finance Q2 net up by 27% at Rs 40.5 cr

Disbursements during Q2 of FY16 stood at Rs 450 cr as against Rs 537 cr during Q2 of FY15

Sundaram BNP Paribas Home Finance, the home finance subsidiary of Sundaram Finance Ltd., has registered a 27 per cent increase in its net profit during the quarter ended September 30, 2015 at Rs 40.52 crore as compared to Rs 31.95 crore, during the same period last year.

Income from operations stood at Rs 242 crore during the second quarter ended September 30, 2015 as compared to Rs 238 crore clocked during the same period last year.

Loans under management stood at Rs 7,535 crore as on September 30, 2015.

The company registered home loan disbursements of Rs 450 crore for second quarter ended September 30, 2015 as compared to Rs 537 crore in the corresponding quarter last year.

In the first week of October, the company had lowered its PLR for Home Loans by 25 basis points to 9.65 per cent.

Sundaram BNP Paribas Home Finance Ltd is a 50.1-49.9 per cent Joint Venture between Sundaram Finance and BNP Paribas of France.