Chennai: Leading Non Banking Finance Company (NBFC) Sundaram Finance Ltd, has registered a 25.9 per cent rise in net profit for Q1 ended 30 June at Rs 140.72 crore as compared to Rs 111.74 crore registered in the same quarter the previous year. The results are as per the new Indian Accounting Standards.
Disbursements grew 19 per cent to Rs 4,062 crore from Rs 3,420 crore registered in Q1 of the previous year. Assets under Management (AUM) grew 21 per cent to Rs 2,5740 crore as compared to Rs 21,360 crore as on 30 June 2017.
Recently, Sundaram Finance raised interest rates on fixed deposits by 50 basis points. The company has a deposit base of over Rs 2,500 crore.
A release from the firm stated that earlier this week, Sundaram Finance Group contributed Rs 1 crore to the Kerala Chief Minister’s Distress Relief Fund to support the flood relief work in Kerala.