Moneycontrol
Last Updated : Nov 02, 2018 05:47 PM IST | Source: PTI

Sundaram Finance clocks marginal rise in Q2 net profits

The non-banking finance company had clocked net profits at Rs 153 crore during corresponding quarter of previous year.

 
 
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Sundaram Finance has clocked a marginal rise in its net profits for the quarter ending September 30, 2018 to Rs 154 crore, the company said on November 2.

The non-banking finance company had clocked net profits at Rs 153 crore during corresponding quarter of previous year.

For the half year ending September 30, 2018 net profits of the company grew by 11 percent, to Rs 295 crore from Rs 265 crore registered during year ago period.

Loan disbursements for the quarter ending September stood at Rs 4,263 crore, as against Rs 3,797 crore clocked corresponding quarter of previous year.

For the six-month period ending September 30, 2018, loan disbursements grew by 15 percent to Rs 8,325 crore as compared to Rs 7,217 crore registered year ago.

On the financial performance, Managing Director TT Srinivasaraghavan said, "While asset growth and asset quality remained strong, margins came under some pressure during the quarter (ending September 30, 2018)."

Sundaram Finance Group services offer financing for commercial vehicles, passenger cars and construction equipment. It has over 600 branches across the country.
First Published on Nov 2, 2018 05:36 pm
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