Sundaram Finance registered a net profit of Rs. 58.80 crore in the first three months ended June 30, 2010, against Rs. 39.36 crore (excluding a one-time profit of Rs. 21.86 crore on sale of shares in Wabco TVS) in the year-ago period. Disbursements were up by 69 per cent at Rs. 1,756 crore against Rs. 1,042 crore.
Commenting on the first quarter performance, T. T. Srinivasaraghavan, Managing Director of the company, said in a release that the focus on long- standing customer relationships and the strong asset quality contributed to the significant rise in net profit. The company is planning to open over 100 offices this year that is expected to take the overall branch network to over 600.
