Sundaram Finance Holdings Ltd on Friday said it clocked over 100 per cent rise in net profit at Rs 32 crore for the fourth quarter ended March 2019 The wholly-owned subsidiary of city-based Sundaram Finance Group, recorded net profit at Rs 15 crore in the same period of last fiscal. ‘
Revenues for the quarter grew to Rs 42 crore from Rs 23 crore registered in the corresponding period of previous year.
For the financial year ended March 2019, net profit of the company went up by 57.4 per cent to Rs 85 crore, from Rs 54 crore registered year ago.
Revenues during the year ended March 31, 2019 surged to Rs 121 crore as compared to Rs 76 crore last fiscal.
The Board at its meeting recommended a dividend of Rs 1.75 per share with face value of Rs 5 per share.
In February 2017, the company announced a composite scheme of arrangement under which all non-financial services investments of the company together with identified shared services businesses were demerged into Sundaram Finance Holdings Ltd, a wholly-owned subsidiary, the statement added.