Comments
Non-Banking Finance Company Sundaram Finance has reported a six per cent increase in net profit for the quarter ended June 30at ₹166 crore when compared to ₹157 crore in the corresponding period last year.
Revenue from operations stood at ₹948 crore against ₹930 crore recorded in the year-ago quarter.
“With the monsoon tracking well, the rural economy holds promise. Passenger car sales are beginning to look up and the oncoming festive season could prove a shot in the arm for auto manufacturers,” said TT Srinivasaraghavan, Managing Director, Sundaram Finance Ltd.
“The government’s investment in the infrastructure sector could provide a boost to the construction equipment segment,” he added.
Assets under management stood at ₹29,580 crore as on June 30 when compared to ₹29,977 crore as on June 30, 2019.
The deposit base crossed ₹3,700 crore during the quarter ended June 30.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.