Politics · India Bureau
Sundaram Finance Q2 profit grows 6% to ₹517 crore on higher revenue
Sundaram Finance Ltd reported a modest 6 per cent year-on-year increase in consolidated net profit for the September quarter, driven by higher total income. The non-banking finance company also approved a restructuring plan to streamline its group shareholding structure.
LSN India ·
Sundaram Finance Ltd posted consolidated net profit of ₹517 crore for the second quarter of fiscal 2026-27 ended September 30, compared with ₹488 crore in the corresponding period a year earlier, the company announced through a regulatory filing on Thursday.
The company's total consolidated income during the quarter rose to ₹2,749 crore from ₹2,401 crore in the year-ago quarter, marking a gain of 14.5 per cent. The sequential growth in both profitability and revenue reflects stable operational performance across the NBFC's lending portfolio during the July-September period.
In a related development, Sundaram Finance's board approved the proposed acquisition of a full stake in Sundaram Alternate Assets Ltd (SAAL), currently a step-down subsidiary held through Sundaram Asset Management Company Ltd. Under the proposed restructuring, SAAL will become a direct subsidiary of Sundaram Finance, simplifying the group's holding structure.
The acquisition involves the transfer of 3,90,53,158 equity shares of ₹10 each held by SAMCL to Sundaram Finance. The company indicated that the move aims to optimize its corporate structure, though details regarding the acquisition consideration and expected timeline were not disclosed in the regulatory announcement.