Chennai, Oct 29 (PTI) Non-banking finance companySundaram Finance has recorded a 12.8 per cent rise in thetotal loan disbursed during the first six month period endingSeptember 30 at Rs 7,217 crore.
The Chennai-based firm disbursed Rs 6,394 crore duringcorresponding period of last year, a company statement said.
Net profits for the second quarter ending September 30,2017 grew by 25 per cent, to Rs 160 crore, from Rs 128 croreregistered during year ago period.
For the August-September 2017 quarter, the loandisbursements grew by 20 per cent to Rs 3,797 crore, ascompared to Rs 3,177 crore, registered during year ago period.
Net profits for the first six month period endingSeptember 30, 2017 went upto Rs 277 crore from Rs 218 croreregistered during year ago period.
The asset quality with gross NPA as on September 30, 2017stood at 2 per cent while Net NPA at 1.01 per cent. Gross NPAwas at 2.18 per cent and Net NPA at 1 per cent as on September30, 2016.
The company finances commercial vehicles, passenger carsand construction equipment. It also has presence in homeloans, mutual funds, non-life insurance. Sundaram Finance hasover 600 branches across the country, it added. PTI VIJRC.
This is unedited, unformatted feed from the Press Trust of India wire.
