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Sundaram Finance reported 26% increase in its income from operations on a standalone basis to Rs 506.28 crore for the quarter ended September 2012 compared to corresponding previous year quarter while other income rose 49% to Rs 29.25 crore leading to 27% increase in total income to Rs 535.53 crore. Interest expenses rose 34% to Rs 265.95 crore. Operating expenses rose 15% to Rs 86.05 crore leading to 24% growth in operating profits to Rs 183.53 crore. Depreciation rose 27% to Rs 21.54 crore. PBT as a result rose 24% to Rs 161.99 crore. Effective tax rate was 31.2% compared to 30.5% in the corresponding previous year quarter. Net Profit of the company rose 23% to Rs 111.5 crore.
Disbursement increased 8% in Q2FY'13 to Rs 2454 crore compared to Q21FY'12.
Half year ended results
For half year ended September 2012 the company reported 24% increase in its income from operations to Rs 977.85 crore compared to corresponding previous year period while other income of the company rose 39% to Rs 45.88 crore leading 24% increase in total income to Rs 1023.73 crore. Interest expenses rose 25% to Rs 509.82 crore. Operating expenses rose 22% to Rs 175.27 crore leading to 25% growth in operating profits to Rs 338.64 crore. Depreciation rose 22% to Rs 38.91 crore. PBT as a result rose 26% to Rs 299.73 crore. Effective tax rate was 31.2% compared to 30.4% in the corresponding previous year quarter. Net Profit of the company rose 24% to Rs 206.30 crore.
Disbursement increased 18% in H1FY'13 to Rs 4867 crore compared to H1FY'12.
Gross NPA stood at 0.78% and Net NPA stood at 0.19% for H1FY'13.
Promoter shareholding decreased marginally to 38.57% as on 30 th September 2012 from 39.04% in the previous quarter. None of the promoter's shares are being pledged
The board of Directors has recommended issue of bonus shares in the proportion of 1:1 subject to shareholder approval.
Standalone Book value of the company stood at Rs 359.1
Sundaram Finance is currently trading at Rs 917.
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