Sundaram Finance Holdings Ltd 4th qtr net up over 113.3%

Sundaram Finance Holdings Ltd Friday said its net profits clocked over 100 per cent rise for the fourth quarter ending March 2019 to Rs 32 crore. The wholly-owned subsidiary of city-based Sundaram Finance Group, recorded net profits at Rs 15 crore in same period of last fiscal. For the year ending March 2019, net profits of the company went up by 57.4 per cent to Rs 85 crore, from Rs 54 crore registered year ago. Revenues for the quarter ending March 2019 grew to Rs 42 crore from Rs 23 crore registered in the corresponding period of previous year.

Revenues for the year ending March 31, 2019 surged to Rs 121 crore as compared to Rs 76 crore last fiscal. The Board at its meeting recommended a dividend of Rs 1.75 per share on face value of Rs five per share. In February 2017, the company announced a composite scheme of arrangement under which all non-financial services investments of the company together with identified shared services businesses were demerged into Sundaram Finance Holdings Ltd, a wholly-owned subsidiary, the statement added.