BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Sundaram Finance Ltd. reported profit after tax of Rs 1.9 billion, up 15.6% YoY but down 8.4% QoQ.
The YoY increase in profit after tax was supported by-
decline in the cost of funds, which was down 116 basis points YoY at 6.5% and
lower cost-to-income ratio, decline of 280 bps YoY to 31.9%.
However, the sequential decline in profit after tax was largely due to low other income.
Sundaram Finance reported disbursements of Rs 20.6 billion (up 1.2 times YoY but down 37.7% QoQ) due to the second Covid-19 wave led disruptions.
Assets under management at Rs 298 billion was up 0.8% YoY but down 3.4% QoQ.
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