Sundaram Fin net profit grows 13 pc to Rs 128 cr

Non-banking finance company Sundaram Finance has recorded a 13.2 per cent rise in its net profit for the second quarter ended September at Rs 128 crore.
Net profit stood at Rs 113 crore in the same quarter last year, the city-based firm said in a statement.
The earnings for September quarter this fiscal had an one-time extra-ordinary income of Rs 40.65 crore on account of sale of shares in BNP Paribas Sundaram Global Securities Operation, it said.
Loan disbursements in April-August went up 12.2 per cent to Rs 6,394 crore as against Rs 5,697 crore registered in the year-ago period.

Gross NPA as on September 2016 stood at 2.18 per cent while net NPA read 1 per cent.
The total assets under management as on September 2016 grew to Rs 19,348 crore, from Rs 17,140 crore a year earlier.
On performance of subsidiaries, the average assets under management of Sundaram Asset Management was Rs 25,614 crore as on September 2016, the statement said.
Royal Sundaram General Insurance Company, a subsidiary, achieved a 37 per cent growth in its gross written premium for April-September 2016 at Rs 1,078 crore, from Rs 787 crore in the previous fiscal.