Sundaram Home Finance Q1 net up 18% at Rs 47 crore

CHENNAI: Sundaram Home Finance has registered an 18% rise in its net profit for Q1 ended 30th June 2022 at Rs 47.26 crores as compared to Rs 40.03 cr in the corresponding quarter of the previous year. Disbursements for Q1 ended 30th June 2022 increased to Rs 796 cr from Rs 249 cr registered in Q1 ended 30 th June 2021. For the second quarter in succession, the company has achieved disbursements of close to Rs 800 cr. In Q4 last year, Sundaram Home Finance had registered disbursements of Rs 794 cr. Lakshminarayanan Duraiswamy, MD, Sundaram Home Finance said, “We have seen the positive disbursements trend from Q4 of last year continuing into Q1 this year driven by an increasing demand for home loans in Tier 2 and 3 towns in the Southern markets.”