Sundaram Finance reports strong Q2 result

Net profit soars 74.32% to Rs 269 crore on 28.85% rise in total income to Rs 1057.96 crore in Q2 September 2019 over Q2 September 2018.

The Q2 September 2019 net profit, however, includes a one-time income of Rs 53 crore and the benefit of lower corporate tax, Sundaram Finance said. Hence, on a like to like comparison, net profit rose 25% to Rs 192 crore in Q2 September 2019 over Q2 September 2018.

The assets under management as on 30 September 2019 were Rs 30,256 crore as against Rs 27,228 crore registered same period the last fiscal.

The result was declared before market hours today, 12 November 2019. Stock markets are closed today on account of Gurunanak Jayanti. Shares of Sundaram Finance rose 1.69% to settle at Rs 1,595.60 yesterday, 11 November 2019.

Set up in 1954, the Sundaram Finance Group's services include financing for the entire range of commercial vehicles, passenger cars and construction equipment, as well as specially designed working capital products such as fuel finance and tyre finance. The company is also into home loans, mutual funds, non-life insurance, IT, BPO and distribution of a wide range of financial products and services.

Powered by Capital Market - Live News