Sundaram Finance Q1 net up 6% to Rs 166 crore

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August 11, 2020 9:15 AM

Non-banking finance company Sundaram Finance has reported a 6% rise in its net profit to Rs 166 crore for the quarter ended June 30, compared with Rs 157 crore in the corresponding period last year.

Sundaram Finance, Sundaram Finance Q1 net, Assets under management, Sundaram Finance Group servicesSundaram 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.

Non-banking finance company Sundaram Finance has reported a 6% rise in its net profit to Rs 166 crore for the quarter ended June 30, compared with Rs 157 crore in the corresponding period last year. Revenue from operations increased to Rs 948 crore from Rs 930 crore. Assets under management (AUMs) of the company stood at Rs 29, 580 crore as on June 30, against Rs 29, 977 crore in the year-ago period. The deposit base crossed Rs 3700 crore during the quarter ended June 2020.

TT Srinivasaraghavan, MD, Sundaram Finance, said: “With the monsoon tracking well, the rural economy holds promise. Passenger car sales are beginning to look up and the coming festive season could prove a shot in the arm for auto manufacturers. The government’s investment in the infrastructure sector could provide a boost to the construction equipment segment.”

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.

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