Sundaram Finance logs 24 percent growth in profit

Last Updated: Mon, Jan 28, 2013 12:20 hrs

Chennai, Jan 28 (IANS) Non-banking finance company Sundaram Finance Ltd. Monday announced a 24 percent increase in its after-tax profit for the nine months that ended Dec 31, 2012.

The company said that its net profit for the nine-month period was Rs.319.95 crore, up from Rs.257.24 crore posted during the corresponding period of the previous year.

For the period under the review, the company earned an income of Rs.1,523.85 crore, up from Rs.1,232.36 crore earned during the nine-month period of the previous fiscal.

According to Sundaram Finance Ltd., disbursements showed a 12 percent increase at Rs.7,400 crore.

Net non-performing asset (NPA) stood at 0.21 percent compared with 0.32 percent of the previous year.

The company has a deposit of Rs.1,412 crore.

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