Disbursements for Q1 FY24 recorded a growth of 32% to Rs 6,489 crore as compared to Rs 4,915 crore registered in the corresponding quarter of the previous year.

The assets under the management grew 22% to Rs 37,255 crore as on 30 June 2023 as against Rs 30,552 crore as on 30 June 2022.

As on June 2023, the total restructured assets under Covid relief measures enabled by the Reserve Bank of India were at Rs 538 crore.

Gross stage III assets as on 30 June 2023 stood at 1.90% with 48% provision cover as against 2.51% with provision cover of 49% as on 30 June 2022. Net stage 3 as on 30 June 2023 closed at 1% as against 1.30% as on 30 June 2022.

Gross and Net NPA, as per RBI's new asset classification norms for NBFCs, are 2.96% and 2% respectively as against 2.66% and 1.41% as of 30 June 2022 (based on old norms).

Cost to income closed at 35.27% in Q1 FY24 as against 36.02% posted in same period last year.

Capital adequacy ratio stood at 21.4% (Tier I –17%) as of 30 June 2023 compared to 24.1% (Tier I – 17.8%) as of 30 June 2022.

The NBFC reported 52.75% surge in consolidated net profit to Rs 375.24 crore on 26.9% rise in total income to Rs 1,589.67 crore in Q1 FY24 over Q1 FY23.

Sundaram Finance offers financing for commercial vehicles, cars & utility vehicles, tractors and farm equipment, construction equipment, SME finance and a range of working capital products for financing diesel, tyres, insurance as well as working capital for SMEs. Through its subsidiaries and group companies, the company offers home finance, loans against property, mutual funds and investment management solutions and the full range of general insurance products and services. It has a nation-wide presence of over 690 branches, nearly 1.2 lakh depositors and over 4 lakh lending customers.

The counter hit an all-time high of Rs 2,980 in today's intraday session on the BSE.