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.