Chennai-based NBFC Sundaram Finance has registered a net profit of Rs 67.53 crore for the second quarter ended September 30, 2010.
A company release, however, added that the profit figures of Q2FY11 and Q2FY10 are not comparable as the net profit relating to the second quarter of FY10 included a one-time profit of Rs 2.44 crore on account of sale of shares on WABCO TVS.
Excluding the value of sale of WABCO TVS shares, the Q2FY11 profit registered a rise of 26.26 per cent. Disbursements for the second quarter of FY11 went up 46 per cent to Rs 3,652 crore as compared to Rs 2,492 crore registered in Q2FY10.
The primary growth drivers in the second quarter were M&HCVs that went up 61 per cent in unit terms and LCVs that grew 31 per cent.
Set up in 1954, Sundaram Finance is the oldest NBFC in the country, financing the entire range of commercial vehicles, passenger cars and construction equipments.
