Sundaram Finance Q1 net jumps 22.3 pct to Rs 115.99 crore

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SummaryShares of the company ended at Rs 518.05 apiece, up by 0.52 per cent over the previous close at BSE.

Non-banking finance company Sundaram Finance has reported 22.3 per cent increase in net profit for the first quarter ended June 30 to Rs 115.99 crore.

The Chennai-headquartered company had reported net profit at Rs 94.81 crore in the corresponding period of the previous year, Sundaram Finance said in a statement.

Total loans disbursed during the quarter rose 14.7 per cent to Rs 2,799 crore, from Rs 2,440 crore disbursed during the same period of the previous year.

The company had registered Gross NPA of 1.53 per cent and Net NPA at 0.92 per cent for the first quarter ending June 30, it said.

The deposit base during the first quarter ending June 30 stood at Rs 1,540 crore, it said.

"The overall outlook remains uncertain. While our focus on the medium and heavy commercial vehicle segment continues, we will look to expand our presence in newer segments such as LCVs and tractors", Sundaram Finance Managing Director, TT Srinivasaraghavan said.

"As always, the emphasis is on growth with quality and profitability", he added.

Shares of the company ended at Rs 518.05 apiece, up by 0.52 per cent over the previous close at BSE.

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