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    Sundaram Finance net up 9% in Q1

    Disbursements for Q1FY25 recorded a growth of 7 per cent over Q1FY24. Net interest income rose 20 per cent in Q1FY25 against Q1FY24. The profit from operations is up by 22 per cent in Q1FY25.

    Sundaram Finance net up 9% in Q1
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    Sundaram Finance Ltd (SFL)

    CHENNAI: Sundaram Finance Ltd (SFL) has reported a net profit of Rs 308 cr for Q1FY25, as against Rs 281 crore in Q1FY24.

    “Team Sundaram has delivered a strong Q1FY25 despite lower-than-expected economic activity in the quarter. Assets under management grew by 23 per cent to a new high of Rs. 45,671 crores, net stage 3 assets closed at 0.84 per cent and profit after tax recorded a 9 per cent growth to Rs 308 crores over the prior year period. Our Group companies in asset management, general insurance and home finance have continued their trajectory from FY24 and recorded strong results,” said Harsha Viji, executive vice chairman.

    Disbursements for Q1FY25 recorded a growth of 7 per cent over Q1FY24. Net interest income rose 20 per cent in Q1FY25 against Q1FY24. The profit from operations is up by 22 per cent in Q1FY25.

    “As we expected, economic activity in Q1 was disrupted by the general elections as well as a particularly hot summer. We delivered a well-balanced GQP performance in a tough operating environment. Looking ahead, we expect seamless continuity in the policy agenda of the government at the centre and that economic activity will pick up through the rest of the year,” said Rajiv Lochan, MD.

    STANDALONE PERFORMANCE HIGHLIGHTS Q1FY25

    Disbursements for Q1FY25 recorded a growth of 7% to Rs 6,908 crore as compared to Rs 6,489 crore registered in Q1FY24

    Assets under management grew by 23% to Rs 45,671 crore as on June 30, 2024 as against Rs 37,255 crore as on June 30, 2023

    Net interest income rose 20% in Q1FY25 against Q1FY24. Profit from operations increased by 22% in Q1FY25 as compared to Q1FY24

    PAT registered a 9% rise in Q1FY25, with Rs 308 cr as net profit. Its net profit was Rs 281 cr in Q1FY24

    Return on assets for Q1FY25 closed at 2.38% as against 2.68% for Q1FY24

    Return on equity was at 13.6% for Q1FY25 as against 14.3% for Q1FY24

    Capital Adequacy Ratio stood at 19.3% (Tier I –16.2%) as of June 30, 2024 compared to 21.4% (Tier I – 17.0%) as of June 30, 2023

    DTNEXT Bureau
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