Sundaram BNP Paribas Q2 Net flat at Rs 39 cr

Sundaram BNP Paribas Home Finance has recorded a marginal dip in net profit at Rs 39 crore for the second quarter ended September 30, 2016.
The Chennai-based home finance company had registered a net profit of Rs 40 crore for the corresponding quarter of the previous year.
For the half-year period ending September 30, 2016, the net profit of the company remained flat at Rs 81.91 crore compared to Rs 81.70 crore registered during the year ago period, a company statement said.
The disbursements of loan during the six month period grew by 12.9 per cent to Rs 1,036 crore from Rs 917 crore registered during the same period of last fiscal.

Loans under management stood at Rs 7,660 crore as on end September.
"After a couple of years of sluggish growth, the real estate sector seems to be on the recovery path. We believe that the disbursements growth of 12.9 per cent in the first half of the year reflects the beginning of the positive change in the sentiment," Sundaram Home Finance, Managing Director, Srinivas Acharya said.
On the rural housing finance segment, he said the company was looking at doubling the business as there was more potential from the segment.
The company continues to expand operations as the total loans disbursed crossed Rs 30 crore during the April-September, 2016 period. "There is potential to double the business from the rural housing segment", he said.