Sundaram Finance logs highest-ever quarterly loan disbursements at Rs4,895 crore in June quarter

10 Aug 2022 , 02:03 PM

Sundaram Finance Limited announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2022.

The company managed to establish a pre-pandemic growth trajectory with the highest-ever first quarter disbursements of Rs4,895 crore, with an upside of 138% yoy over Rs2,060 crore in the first quarter of last year.

Company’s Net Profit in Q1FY23 jumped 18% yoy at Rs226 crore as against Rs192 crore in Q1FY22. Further, the company witnessed Continued improvement in asset quality with Gross Stage 3 assets at 2.51% as against 4.25% in the same quarter last year. Net stage 3 assets stood at 1.30% as compared to 3.12% in the previous corresponding quarter.

On a sequential basis, disbursements jumped 31%.

Company’s Assets under management were up by 2.4% to Rs30,552 crore in Q1FY23 as compared to Rs29,823 crore in Q1FY22.

Sundaram Finance’s ROA stood at 2.5% in Q1FY23 as compared to 2.2% in the previous corresponding quarter. Its Capital Adequacy Ratio was reported at 24.1% in Q1FY23 as compared to 23.50% in Q1FY22.

At around 2.07 PM, Sundaram Finance was trading at Rs2,107.10 per piece, down by 0.27% from its previous closing of Rs2,112.90 on the BSE. The scrip touched intraday high and low of Rs2,130 and Rs2,071.95 respectively.