Sundaram Finance Q2 net up 10.8 pc at Rs 123 cr

Published: 28th October 2013 05:32 PM  |   Last Updated: 28th October 2013 05:32 PM   |  A+A-


Sundaram Finance Ltd has reported 10.8 per cent jump in net profit at Rs 123 crore for the second quarter ended September 30, 2013.

The non-banking finance company had posted a net profit of Rs 111 crore in the July-September quarter of 2011-12.

For the first six months ended September 2013, the city- based company posted a net profit of Rs 239 crore compared to Rs 206 crore in the year-ago period, showing an increase of 16 per cent, Sundaram Finance said in a statement.

Total loan disbursements during the first half of this financial year (April-September 2013) increased by 6.38 per cent to Rs 5,178 crore from Rs 4,867 crore registered during the same period of previous year.

Gross NPA and net NPA as on September 30, 2013 stood at 1.58 per cent and 0.94 per cent respectively, it said.

"Market conditions continue to be challenging with the sales of commercial vehicles and passenger cars having fallen sharply and prospects of an early revival appearing unlikely," Sundaram Finance Managing Director TT Srinivasaraghavan said.

"We will continue to focus on our stated objectives of growth with quality and profitability," he said.

The company's capital adequacy ratio stood at 17.66 per cent, it said.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp