Sundaram Finance Ltd., a leading non-banking financial company, has reported a flat growth in standalone net profit for the second quarter ended September 2018, at ₹154 crore against ₹153 crore registered in the corresponding quarter of the previous year due to margin pressure.
Loan disbursements for the second quarter reported a 12% growth at ₹4,263 crore (₹3,797 crore). “While asset growth and asset quality remained strong, margins came under some pressure during the quarter,” said T.T. Srinivasaraghavan, managing director.
The firm reported a 18.51% growth in its total revenue from operations to ₹819.45 crore from ₹691.43 crore for the corresponding year-ago period. It also recovered bad debts of ₹5.31 crore (₹3.94 crore).
The share gained ₹2.05 to close at ₹1,491.40 on the BSE on Thursday.