Sundaram Finance posts 20% rise in Q3 net at 243 cr
The company has also declared an interim dividend of 12 per share06-02-2023
06-02-2023
Q3FY23 Quarterly Result Announced for Sundaram Finance Ltd.
Sundaram Finance announced Q3FY23 results: Standalone 9MFY23 & Q3FY23: Disbursements for 9MFY23 recorded a growth of 64% to Rs 15,587 crore as compared to Rs 9,524 crore registered in 9MFY22. Disbursements for Q3FY23 recorded a growth of 45% to Rs 5,553 crore as compared to Rs 3,843 crore in Q3FY22. The assets under management stood at Rs 33,558 crore in Q3FY23 as against Rs 29,796 crore as on Q3FY22, up by 13%. The total restructured assets under Covid relief measures enabled by the Reserve Bank of India were at Rs 765 crore, about 2.3% of loan outstanding, as on Q3FY23. Gross stage 3 as on Q3FY23 stood at 2.43% with 45% provision cover as against 3.39% with provision cover of 39% as on Q3FY22. Net stage 3 as on Q3FY23 closed at 1.35% as against 2.09% as on Q3FY22. With the improvement in the asset quality, the impairment cost for 9MFY23 was Rs 117 crore as against Rs 347 crore in 9MFY22. The Gross and Net NPA, per RBI’s new asset classification norms for NBFCs, are 3.97% and 2.78% respectively as against 7.71% and 6.17% as of Q3FY22. Cost to income ratio closed at 32.23% in 9MFY23 as against 29.96% in 9MFY22. Profit after tax registered an 28% rise in 9MFY23, with net profit at Rs 772 crore. The company had registered a net profit of Rs 605 crore in 9MFY22. Profit after tax registered 20% increase in Q3FY23, with net profit at Rs 243 crore as compared to Rs 202 crore in Q3FY22. Return on assets (ROA) for 9MFY23 closed at 2.8% as against 2.3% for 9MFY22. Return of equity (ROE) was at 14.2% for 9MFY23 as against 12.5% for 9MFY22. If we exclude investments in subsidiaries and group companies, core ROE was at 17.0% for 9MFY23 as against 16.2% for 9MFY22. Capital Adequacy Ratio stood at 23.3% (Tier I –17.8%) as of Q3FY23 compared to 23.6% (Tier I – 16.7%) as of Q3FY22. The Company has declared an interim dividend of Rs 12 per share (120%). Consolidated 9MFY23 & Q3FY23: The assets under management (AUM) in our lending and general insurance businesses stood at Rs 51,866 crore as on Q3FY23 as against Rs 46,348 crore as on Q3FY22. The assets under management of our asset management business stood at Rs 56,791 crore as on Q3FY23 as against Rs 46,355 crore as on Q3FY22. Profits after tax for 9MFY23 was Rs 885 crore as compared to Rs 833 crore in 9MFY22. “The third quarter witnessed a bumper festival season and we have been able to strengthen our market share across geographies and asset classes. Looking ahead, as inflation eases and government capital expenditure crowds in private investment, we expect growth in the economy to pick up. Our investments in technology & data coupled with our traditional strengths of customer obsession and people-centricity will provide us the impetus to scale up our business the Sundaram way,” said Rajiv Lochan, Managing Director. Result PDF06-02-2023
SUNDARAM FINANCE LTD. - 590071 - Appointment of Independent Director
Sundaram Finance Ltd has informed BSE regarding "Appointment of Mrs. Bhavani Balasubramanian as an Independent Director".06-02-2023
SUNDARAM FINANCE LTD. - 590071 - Results Press Release for December 31, 2022
Sundaram Finance Ltd has informed BSE about : 1. Result Press Release for the period ended December 31, 202206-02-2023
SUNDARAM FINANCE LTD. - 590071 - Standalone & Consolidated Financial Results, Limited Review Report for December 31, 2022
Sundaram Finance Ltd has informed BSE about : 1. Standalone Financial Results for the period ended December 31, 20222. Consolidated Financial Results for the period ended December 31, 20223. Standalone Limited Review for the period ended December 31, 20224. Consolidated Limited Review for the period ended December 31, 202206-02-2023
Sundaram Home Finance reports net profit of Rs 52.56 crore in Q3
Sundaram Home Finance, a wholly owned subsidiary of Sundaram Finance, has reported a net profit of Rs 52.56 crore for the October-December 2022 quarter, the company said on Thursday. The city-based firm made a net profit at Rs 34.90 crore during the corresponding quarter last year. Disbursements grew to Rs 985.90 crore from Rs 651.84 crore. For the nine-month period ending December 31, 2022, the net profit grew to Rs 150.13 crore compared to Rs 114.63 crore registered in the same period last year. Disbursements soared to Rs 2,759.64 crore from Rs 1,542.42 crore. The company, during the quarter under review, made foray in the small business loans segment wherein it would provide loans of up to Rs 20 lakh to small shops and small business enterprises. It has opened new exclusive branches in Madurai, Tenkasi, Theni, Salem, Rasipuram, Tirunelveli and Sivakasi, the company said. "The initial response from the locations where we have opened exclusive branches has been quite positive. We02-02-2023
SUNDARAM FINANCE LTD. - 590071 - Board to consider Interim Dividend
Sundaram Finance Ltd has informed BSE that at the Board meeting to be held on February 06, 2023, the Board of Directors will be considering the declaration of Interim dividend for the Financial Year 2022-23 and fixing the Record Date for the same.02-02-2023
SUNDARAM FINANCE LTD. - 590071 - Board Meeting Intimation for Results
Sundaram Finance Ltd has informed BSE that a meeting of the Board of Directors of the Company has been convened on February 06, 2023, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2022.02-02-2023
Sundaram Finance to revise interest rate on term deposits from Jan 1
Non-banking finance company Sundaram Finance would revise interest rate on its term deposits with effect from January 1, the city-based firm said on Saturday. Accordingly, the rate on 12-month deposit would be increased to 7.20 per cent, 7.50 per cent for a tenure of 24 months and for 36 months it would be 7.50 per cent. For senior citizens, the rate of interest would be 7.70 per cent for 12-month deposits, 8 per cent for 24 and 36 months, the city-based Sundaram Finance said in a statement here. The company said its deposit base stood at Rs 4,461 crore.31-12-2022
SUNDARAM FINANCE LTD. - 590071 - Closure of Trading Window
Sundaram Finance Ltd has informed BSE regarding "Intimation regarding closure of Trading Window".31-12-2022