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The Mumbai headquartered company reported 47.3% year-on-year growth in net profit at Rs 52.6 crore while revenue from operations rose by 40% to Rs 246.3 crore for the September quarter. Loan disbursement increased by 25% to Rs 701 crore.

​​ Revenue grew by 18.8% year-on-year to Rs 4,800 crore while net profit more than doubled to Rs 446.6 crore. According to Bloomberg consensus, analysts had estimated revenue and net profit of Rs 4,573 crore and Rs 328.1 crore respectively. The company’s growth was driven by the increase in infrastructure projects rolled out by the government during a pre-election year.

While the recent debate on 70-hour work weeks has been polarizing, data shows employee productivity of India Inc — measured as revenue per employee — has steadily gone up in the past five years, even as staff cost as a proportion of total revenues has largely been maintained at 10%.

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From 6.15 million cumulative employees on the payroll of ET-500 companies at the end of FY19, the total number of employees rose to nearly 7.1 million at the end of FY23. While the cumulative revenues of ET-500 companies grew at a compound annual growth rate of 12.6% during these five years, the staff cost increased at a similar clip of 12.5%.

The company has been outperforming the two-wheeler industry growth owing to higher share of non-auto verticals and adding new customers and new products in the auto sector to offset volume cyclicality of the two-wheeler industry.

Foldable smartphones experienced remarkable growth, doubling year-on-year. Furthermore, 4G feature phones showed tremendous growth, driven by aspirational India and the demand for companion devices in Urban India," said Shipra Sinha, Analyst- Industry Intelligence Group, CMR.

Cybermedia Research: Foldable smartphones experienced remarkable growth, doubling year-on-year. Furthermore, 4G feature phones showed tremendous growth, driven by aspirational India and the demand for companion devices in Urban India," said Shipra Sinha, Analyst- Industry Intelligence Group, CMR.

The promoter groups stake will fall to 63.5% after the IPO from 74.4%. The company focuses on customers in rural and semi-urban areas which contribute nearly two-thirds to the loan book

The companys revenues grew 11% driven by strong growth posted by the India business and the global specialty sales in the US. A third of the companys revenues is earned each from India and the US. Suns market share in India increased from 8.3% to 8.4% for the year ended September 2023.