Sundaram Finance reports Rs 131 crore net profit in Q4

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Published: May 30, 2020 6:51 AM

The revenue from operations in Q4 FY20 increased by 7% to Rs 942crore as compared to Rs  884 crore.

The revenue from operations in Q4 FY20 increased by 7% to Rs 942crore as compared to Rs  884 crore.

Non-banking finance company Sundaram Finance has registered a net profit of Rs 131 crore for the fourth quarter as against the net profit of Rs 675 crore in the corresponding quarter previous fiscal.  However, these two numbers are not comparable on a like to like basis as the net profit for the Q4 ended March 31, 2019 included an exceptional income of Rs 522 crore on account of sale of shares in Royal Sundaram, said a company statement.

The revenue from operations in Q4 FY20 increased by 7% to Rs 942crore as compared to Rs  884 crore. On the Outlook for the year, T T Srinivasaraghavan, MD, Sundaram Finance, said, “We live in a time of great uncertainty and the overall outlook for the economy is not promising.

The first half of the year is likely to be muted, but a major thrust on infrastructure spending and a favourable monsoon could revive sentiments in the later part of the year.”Sundaram Finance has appointed Rajiv C Lochan as director, strategy, on the board of the company with effect from June 3, 2020. Rajiv Lochan has been on the board as an independent director for the last few years. He has two decades of experience in the field of management, especially in the areas of finance, social sector, and public health. The board of the company has recommended a final dividend of `3 per share.

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