Sundaram Finance Q1 standalone net rises 9% to ₹308 cr.
Sundaram Finance Ltd. reported standalone net profit for the June quarter increased 9% from the year-earlier period to ₹308 crore.
Revenue from operations rose 27% to ₹1,425 crore. Disbursements grew by 7% to ₹6,908 crore. Assets under management rose 23% to ₹45,671 crore. Net interest income rose 20%, the NBFC said in a statement.
The gross non-performing asset declined to 2.21% from 2.96%, while net NPA contracted to 1.41% from 2%.
Capital adequacy ratio declined to 19.3% from 21.4%.
Group company Royal Sundaram reported a gross written premium of ₹1,114 crore against ₹908 crore, while net profit contracted to ₹65 crore from ₹95 crore.
“Team Sundaram has delivered a strong Q1 FY25 despite lower-than-expected economic activity in the quarter. Our group companies in asset management, general insurance and home finance have continued their trajectory from FY24 and recorded strong results,” said executive vice chairman Harsha Viji.
“Looking ahead, we expect seamless continuity in the policy agenda of the government at the Centre and that economic activity will pick up through the rest of the year,” said MD Rajiv Lochan.