Non-banking finance major Sundaram Finance today reported 38 per cent increase in net profit at Rs 355 crore for the year ended March 31,2012. The company had reported a profit of Rs 257 crore in the previous year.
“Disbursements for FY12 increased by 25 per cent to Rs 9,307 crore compared to Rs 7,475 crore registered in FY11. Construction equipment business crossed Rs 1 billion mark during the year,” Sundaram Finance Managing Director T T Srinivasaraghavan told reporters here.
The company’s board has recommended a final dividend of Rs 8 per share,up by Re 1 from the previous year. “This along with the interim dividend of Rs 7.50 per share takes the total dividend for FY 12 to Rs 15.50 per share (from Rs 14 per share the previous year),” he said.
Commenting on the performance,he said: “While commercial vehicle and car segments continued to be major growth drivers for the company,business from the construction equipment and tractor segments was particularly encouraging and augurs well for the future.”