Sundaram Finance Q2 net at Rs 269 crore

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Published: November 12, 2019 1:57:18 AM

Chennai-headquartered NBFC Sundaram Finance has registered a net profit of Rs. 269 crore in Q2FY20 compared to Rs. 154 crore a year ago.

The company’s deposits have seen a 15% growth in the first half of the year.

Chennai-headquartered NBFC Sundaram Finance has registered a net profit of Rs. 269 crore in Q2FY20 compared to Rs. 154 crore a year ago. Net profit, however, includes a one-time income of Rs. 53 crore and the benefit of lower corporate tax.

Income from operations went up 22% to Rs. 994crore from Rs. 817 crore a year ago. Assets under management stood at Rs. 30,256 crore against Rs. 27,228 crore, registering a growth of 11%.

The company’s deposits have seen a 15% growth in the first half of the year. Deposits stood at Rs. 3,424 crore as on September 30, 2019, a net accretion of Rs. 449 crore in H1FY20.

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