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Sundaram Finance profit dips 2.56% on higher cost

Declares interim dividend of ₹5 a share

Sundaram Finance Ltd., a non-banking finance company, has reported a 2.56% dip in its standalone net profit for the third quarter ended December 2018 to ₹156.52 crore against ₹160.63 crore on higher finance costs.

During the quarter, the firm posted total income of ₹860.32 crore against ₹733.29 crore, marking an increase of 17.32%. Finance costs increased to ₹465.86 crore from ₹349.32 crore, an increase of 33.36%.

AUM rises 14%

Assets Under Management (AUM) as of December 31, 2018 increased 14% to ₹28,102 crore compared with ₹24,555 crore.

The board declared an interim dividend of ₹5 per share for the fiscal 2018-19, to be paid on February 26.

For the nine-months period ended December 2018, the firm’s net profit jumped 6% to ₹452 crore compared with ₹426 crore.

Total income rose to ₹2,443.70 crore from ₹2,040.32 crore, an increase of 19.77%.

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