Sundaram Finance (SFL) on Monday reported a internet revenue of Rs 211 crore for the second quarter of FY22, in contrast with Rs 192 crore within the corresponding quarter of final fiscal, recording a progress of round 10%. Complete revenue of the Chennai-based firm grew 3% to Rs 1,025 crore, towards Rs 998 crore.
SFL in an announcement stated the second quarter witnessed restoration throughout most macro-economic indicators. Disbursements for the quarter recorded a progress of 14% to Rs 3,621 crore, in comparison with Rs 3,174 crore in Q2 FY21.
Gross NPA and internet NPA as on September 30, 2021 stood at 3.85% and a pair of.48%, respectively, in contrast with 4.59% and three.38%, respectively, as on June 30, 2021 and a pair of.44percentand 1.44% as on September 30, 2020.
Harsha Viji, government vice chairman, SFL, “Each month within the second quarter has seen enchancment in each enterprise progress and collections. The vicious second wave seems behind us. That stated, total restoration to a brand new regular will take time. Buyer sentiment has considerably improved, and the second half of the yr will doubtless see broad-based restoration.”
The capital adequacy ratio stood at 23.4% (tier I at 16.3%) as on September 30, 2021 as in comparison with 19.3% (tier I at 13.7%).
Rajiv Lochan, MD, stated :“We now have made good progress on each progress and asset high quality within the second quarter. Whereas stress continues in Covid-impacted sub-sectors, we stay targeted on supporting our prospects in resuming their enterprise exercise from the disruptions imposed by the pandemic. Regardless of provide challenges because of the international chip scarcity, demand is bettering throughout asset courses.”
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