Centrum Broking: Sundaram Finance - Business Bouncing Back In Q2; Funding Cost Improving
A customer counts Indian rupee banknotes in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Centrum Broking: Sundaram Finance - Business Bouncing Back In Q2; Funding Cost Improving

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.

Centum Broking Report

Sundaram Finance Ltd. earnings were ahead of estimates led by better net interest margin and lower opex.

Net interest income at Rs 3.9 billion was a beat while loan growth was a bit higher led by strong disbursements which reached 83% of Q2 FY20 levels.

Light commercial vehicle, intermediate commercial vehicle, cars, construction equipment and tractors saw healthy traction. Repayments were 61% of a year ago levels (est. 50%).

Net interest margin and lower opex led a pre-provision operating profit beat.

Click on the attachment to read the full report:

Centrum Broking Sundaram Finance - Q2FY21 Result Update .pdf

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