Sundaram Finance registered a standalone net profit of Rs211cr in the September 2021 (Q2FY22) quarter, rising by 10% yoy. The PAT rises by 12% yoy in HI FY22 with a net profit at Rs402cr.
On the top-line front, the company's standalone revenue was at Rs1,021.82cr in Q2FY22 rising from Rs992.96cr in the same period a year ago. The company's revenue was Rs3,953.74cr in H1FY22 versus Rs1,942.19cr in H1FY21.
"Every month in the second quarter has seen improvement on both business growth and collections, The vicious second wave appears behind us. That said, overall recovery to a new normal will take time. Customer sentiment has significantly improved, and the second half Of the year will likely see broad-based recovery," said Harsha Vlji, Executive Vice Chairman, SFL.
"We have made good progress on both growth and asset quality in the second quarter. While stress continues in Covidimpacted sub-sectors, we remain focused on supporting our customers in resuming their business activity from the disruptions imposed by the pandemic. Despite supply challenges due to the global chip shortage, demand is improving across asset classes," said Rajiv Lochan, Managing Director, SFL
Key highlights of the quarter on a standalone basis are:
Disbursements for Q2 FY22 recorded a growth of 149% to Rs3,621cr as compared to Rs3,174cr registered in Q2 FY21. Disbursements for HI FY22 recorded a growth of 38% to Rs5,681cr as against Rs4,103cr.
The assets under management stood at Rs29,811cr as of 30th September 2021 as against Rs29,823cr as of 30th June 2021.
Gross NPA and Net NPA as of 30th September 2021 stood at 3.85% and 2.48% respectively when compared to 4.59% and 3.38% respectively as of 30th June 2021 and 2.44% and 1.44% respectively as of 30th September 2020.
The deposit base stood at Rs4,125cr as of 30th September 2021, a net accretion of Rs104cr over 31st March 2021.
On a consolidated basis, the company's assets under management {AUM) in lending and general insurance, businesses stood at Rs46,190cr as of 30th September 2021 as against Rs46,634cr as of 30th September 2020. The assets under management of our asset management business stood at Rs43,057cr as of 30th September 2021 as against Rs33,867cr as of 30th September 2020.