Sundaram Home Finance has reported around 25% drop in net profit for the September quarter at Rs 44 crore, against Rs 59 crore in the year ago period.
The lender’s assets under management grew 14% year-on-year to Rs 13888 crore at the end of September. Disbursements during the second quarter rose 27% to Rs 1543 crore as compared to Rs 1214 crores registered in the same period the previous year.
During the second quarter, Sundaram Home Finance expanded its presence outside South India with new branches in Pune in Maharashtra and Indore in Madhya Pradesh, strengthening its already existing presence in the two states.
As part of its expansion plans, the company hired over 300 people during the first half of the year. The company said it will continue to look for select opportunities to grow outside the southern market while consolidating its presence in the South.
