SFL net profit at Rs 58.8 cr

Jul 24, 2010 |

Correspondent

Chennai-based NBFC Sundaram Finance Limited (SFL), has registered a net profit of Rs 58.80 crore for the first quarter ended 30th June 2010. However, the net profit figures for Q1FY11 and Q1FY10 are not comparable as the net profit relating to Q1FY10 included a one time profit of Rs 25.4 crore on account of sale of shares in WABCO TVS. The net profit from continuing operations was up by 49 per cent to Rs 58.8 crore for the first quarter ended 30th June 2010 from Rs 39.3 crore. Commenting on the Q1 performance, Mr T.T. Srinivasaraghavan, MD, Sundaram Finance Ltd, said, “Our focus on long standing customer relationships and the asset quality contributed to the robust growth.”

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