Sundaram Finance Ltd. reported standalone net revenue for the June quarter rose 25% to ₹281 crore over the 12 months ancient times.
Revenue from operations grew by 27% to ₹1,187 crore, the non-banking finance firm stated in an announcement.
Disbursements elevated by 32% to ₹6,489 crore with all asset courses and geographies witnessing important development.
The gross and net non-performing belongings are 2.96% and a couple of% respectively towards 2.66% and 1.41% (based mostly on previous norms).
The belongings below administration elevated to ₹37,255 crore towards ₹30,552 crore.
“With the improvement in economic activity and the viability of our customers, Gross stage 3 assets improved substantially over the corresponding period of last year driven by our focused collection efforts and deep customer relationships,” the corporate stated.
“Our group companies in asset management, general insurance and home finance have continued their trajectory from FY23 and recorded strong results. Overall, our time-tested approach of steady and sustainable growth with best-in-class asset quality and consistent profitability remains our primary focus,” stated Executive Vice-Chairman Harsha Viji.
“The year is off to a strong start powered by our people, processes and technology, and we have struck a good balance between growth, asset quality and profitability. We remain focused on extending our market share across all asset classes and geographies we operate in,” he stated.
Managing Director Rajiv C. Lochan stated that they anticipate financial exercise to collect steam going into the pageant season and ‘Team Sundaram’ is equipped to maintain the momentum from FY23 and Q1FY24.
