Sundaram Finance Ltd reports consolidated PAT of Rs 270 50 crores in Q4 FY2020-21 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
: Non-Banking Finance Company
Sundaram Finance Ltd has reported a 59.5 per cent jump on its fourth quarter Profit After Tax at Rs 209 crore.
Sundaram Finance had registered consolidated PAT at Rs 131 crore during corresponding the quarter last year. For the year ending March 2021, the company registered a profit after tax at Rs 809 crore compared to Rs 724 crore in the same period last year. Excluding the one-time gain of Rs 53 crore (on sale of equity shares in Sundaram Finance Holdings Ltd) in FY20, net profit grew by 21 per cent on a like to like basis , the city based company said in a statement on Friday.
Non-banking finance company Sundaram Finance Ltd (SFL) has registered a 45 per cent rise in net profit at Rs 242 crore for the quarter ended December 31, 2020, from Rs 167 crore in the corresponding period last year. Disbursements during the quarter under review rose 8.5 per cent to Rs 4,307 crore, from Rs 3,968 crore a year ago. Net income for Q3FY21 went up by around seven per cent to Rs 1,045 crore from Rs 976 crore in the same period last year. Assets under Management stood at Rs 31,226 crore as on December 31, 2020 compared to Rs 30,502 crore a year ago. Net NPA (Stage III) stood at 1.59 per cent (2.79 per cent) as on December 31, 2020.
Sundaram Finance Ltd appoints Rajiv Lochan as next Managing Director
Posted On: 2021-01-20 20:39:43 (Time Zone: Arizona, USA)
Chennai headquartered Non Banking Finance Company Sundaram Finance Ltd., at its board meeting held today announced changes to its management team, starting 1 April 2021.
T.T. Srinivasaraghavan, Managing Director of Sundaram Finance, completes his term of office on 31 March 2021, and is retiring from service after 38 years with the company, the last 18 years as Managing Director. Under Srinivasaraghavan s tenure as Managing Director, the company has grown its balance sheet from under Rs. 800crores to over Rs. 30,000crores today. Over the last two decades, Srinivasaraghavan also led the diversification of the group from its traditional focus on medium and heavy commercial vehicles to a multi-product diversified financial services provider.
Sundaram Finance names Rajiv Lochan as its next Managing Director
January 20, 2021
Rajiv C Lochan - THE HINDU×
TT Srinivasaraghavan, Managing Director of Sundaram Finance, completes his term of office on March 31, 2021
Chennai headquartered Non-Banking Finance Company Sundaram Finance has announced that Managing Director TT Srinivasaraghavan will retire on March 31, 2021 and Rajiv Lochan will become the next Managing Director from April 1.
Rajiv Lochan is now Director (Strategy) at Sundaram Finance and before this he was the Managing Director of Kasturi & Sons.
The Company’s Board met today to finalise the changes, a company statement said.
As part of the management rejig, Harsha Viji, Deputy Managing Director, will assume the office of Executive Vice-Chairman, and take responsibility for the overall strategy and direction of Sundaram Finance and other group companies in financial services space. AN Raju, Director (Operations), will become Deputy Managing Director of t