Sundaram Finance Q1 net up 30 pc to Rs 117 cr

Non-banking finance company Sundaram Finance has registered a 30 per cent growth in net profit at Rs 117 crore for the first quarter ended June 2017.
The company had reported a net profit of Rs 90.17 crore in the same quarter of the previous year.
Disbursements for the first quarter grew 6 per cent to Rs 3,420 crore from Rs 3,217 crore in the same period a year ago, a company statement said.
Assets under management (AUM) grew 16 per cent to Rs 24,331 crore as on June 30, 2017 as compared to Rs 21,007 crore earlier.
The company's gross non performing assets (NPA) stood at 2 per cent at the end of June 2017, compared to 2.15 percent a year ago.

T T Srinivasaraghavan, MD, Sundaram Finance said: "The growth in disbursements was driven by a strong performance in the cars, tractors and construction equipment segments. Asset quality remains strong with both gross NPA and net NPA coming down during the quarter.