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Sundaram Finance posts Rs 269 crore Q2 profit

Profit includes an one-time income of Rs 53 crore and the benefit of lower corporate taxes.

PTI|
Last Updated: Nov 11, 2019, 09.21 PM IST|Original: Nov 11, 2019, 09.21 PM IST
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The net profit includes an one-time income of Rs 53 crore and the benefit of lower corporate taxes, a company statement said here.
Chennai: Leading non-banking finance company Sundaram Finance on Monday said it has registered net profits at Rs 269 crore for the quarter ending September 30, 2019.

The city-based company had recorded net profits at Rs 154 crore during the corresponding quarter the previous year.

The net profit includes an one-time income of Rs 53 crore and the benefit of lower corporate taxes, a company statement said here.

Income from operations for the quarter ending September 30, 2019, grew to Rs 994 crore from Rs 817 crore registered a year ago period.

The assets under management as on September 30, 2019 was at Rs 30,256 crore as against Rs 27,228 crore registered same period the last fiscal.

Deposits stood at Rs 3,424 crore as on September 30, 2019, a net accretion of Rs 449 crore during first half of the financial year.

Shares of the company ended at Rs 1,607 apiece up by 2.15 per cent over the previous close on NSE.
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