Sundaram Finance pre-tax profit declines 12% to Rs 234 cr, income down 51%

AUM up 11% to Rs 30,256 cr; deposits rise 15% in H1 to Rs 3,424 cr

Sundaram Finance has registered a decline of 12 per cent in profit before tax, at Rs 234.5 crore during the quarter ended September 2019, as compared to Rs 266.8 crore in the same period a year ago. 

The firm's total income declined 51 per cent to Rs 1,053.74 crore during the quarter, from Rs 2,142.74 in the same period last year.

The company's assets under management were up 11 per cent, at Rs 30,256 crore as on September 30, from Rs 27,228 crore during same period last year.

Its deposits have seen a 15 per cent growth in the first half of the current fiscal year. Deposits stood at Rs 3,424 crore during the period, with a net accretion of Rs 449 crore in the first half of the year, Sundaram Finance added.