Business

Sundaram Finance Q1 net rises 6%

Non-banking financial company Sundaram Finance Ltd. (SFL) has registered a 6% rise in its net profit for the first quarter ended June to ₹166 crore.

Revenue from operations increased to ₹948 crore from ₹930 crore. Assets under management contracted to ₹29,580 crore from ₹29,977 crore. Deposit base crossed ₹3,700 crore, SFL said in a statement.

“With the monsoon tracking well, the rural economy holds promise,” said T.T. Srinivasaraghavan, MD, SFL.

“Passenger car sales are beginning to look up and the oncoming festive season could prove a shot in the arm for auto manufacturers,” he added.

“The government’s investment in infrastructure could provide a boost to the construction equipment segment,” he said.

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Printable version | Oct 29, 2020 1:12:25 PM | https://www.thehindu.com/business/Industry/sundaram-finance-q1-net-rises-6/article32320285.ece

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