Home Business News Sundaram Finance Q2 profits increase by 10%

Sundaram Finance Q2 profits increase by 10%

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Established assets of Sundaram Finance Ltd. the second phase ended on September 30, increasing 10% to ₹ 211 crore from the previous year.

Total revenue rose to 0 1,022 crore from ₹ 993 crore, while other revenues reached ₹ 3.35 crore from ₹ 4.90 crore, the company said in compliance.

All NPAs rose to 3.85% (2.44%) and 2.48% (1.44%) respectively. All NPAs from September 30, 2020 were in accordance with an interim order of the Supreme Court, which ordered that lenders who granted suspension and were not declared not to have performed properly until August 31, 2020 should not be listed as. NPA until further notice. If the company had set up loan accounts such as NPAs as of September 30, 2020, all NPAs would have been at 2.81% and 1.74% respectively. Reimbursements increased 14% on ₹ 3,621 crore. Portion 3 of the stock stood at 3.45%. Property Management (AUM) stood at ₹ 29,811 crore. The company also claimed an interest rate of 23.4%.

Vice-chairman Harsha Viji said the second phase saw a shift in business growth and mobilization. However, the recovery process will take time, he said.

Customer sentiment was growing significantly, and the second half of the year saw a dramatic recovery, he added.

“While the pressure continues in the sub-regions affected by COVID, we are focused on helping our customers resume their business due to the disruption. all things, “said MD Rajiv Lochan.



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