Sundaram Home Finance Q1 net rises 18% to ₹47 crore

Business


Sundaram Home Finance Ltd. posted a 18% rise in net profit for the first quarter ended June to ₹47 crore, on the back of rising demand for home loans.

Disbursements increased to ₹796 crore from ₹249 crore a year earlier, the company said in a statement.

For the second quarter in succession, the company achieved disbursements of close to ₹800 crore. In Q4 last year, the company had registered disbursements of ₹794 crore.

“We have seen the positive disbursements trend from Q4 of last year continuing into Q1 this year driven by an increasing demand for home loans in tier 2 and 3 towns in the southern markets,” said Lakshminarayanan Duraiswamy, MD.



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