Non-Banking Finance Company Sundaram Finance Ltd., has registered a Net Profit of Rs. 723.95 crores for the year ended 3lst March 2020. The company had registered net profit of Rs. 1126 crores for the year ended 3lst March 2019.However, the net profit of the previous year included an exceptional one time income of Rs. 522 crores on account of sale of shares in Royal Sundaram and hence the profit numbers of the two years are not comparable on a like to like basis.
Revenue from operations for the year ended 31st March 2020 increased 16% to Rs. 3842 crores from Rs. 3321 crores registered in the corresponding period of the previous year. The Gross Receivables stood at Rs. 35088 crores as on 31 St March 2020 as against Rs. 33447 crores as on 31st March 2019 registering a growth of 5%.
The Board of the Company has recommended a Final Dividend of Rs.3 per share.
Gross and Net Stage 3 assets as on 31 st March 2020, stood at 2.47% and 1.65% respectively.
Q4 Net Profit at Rs.131 crores
The company registered a Net Profit of Rs.130.89 crores for the quarter ended 31st March 2020. The company had registered net profit of Rs. 675 crores for the quarter ended 31 St March 2019. However, these two numbers are not comparable on a like to like basis as the net profit for the Q4 ended 31st March 2019 included an exceptional income of Rs. 522 crores on account of sale of shares in Royal Sundaram.
Revenue from operations for the fourth quarter ended 31st March 2020 increased 7% to Rs. 942 crores as compared to Rs. 884 crores registered in the corresponding period of the previous year.
Rajiv Lochan appointed as Director - Strategy
Sundaram Finance has appointed Rajiv C Lochan as Director -Strategy on the Board of the company with effect from 3rd June 2020. Rajiv Lochan has been on the Board as an independent director for the last few years. He has 2 decades of experience in the field of management, especially in the areas of finance, social sector, and public health.
On the Outlook for the year, Sri T.T.Srinivasaraghavan, MD, Sundaram Finance Ltd said, "We live in a time of great uncertainty and the overall outlook for the economy is not promising. The first half of tlie year is likely to be muted, but a major thrust on infrastructure spending and a favourable monsoon could revive sentiments in the later part of the year.
Shares of SUNDARAM FINANCE LTD. was last trading in BSE at Rs.1273.8 as compared to the previous close of Rs. 1209.35. The total number of shares traded during the day was 592 in over 85 trades.
The stock hit an intraday high of Rs. 1293.45 and intraday low of 1201. The net turnover during the day was Rs. 736167.