Sundaram Home Finance Q4 net dips 55% to ₹36.6 cr
May 20, 2021
Disbursements were up 18 per cent to ₹459 crore Sundaram Home Finance’s net profit for the fourth quarter of FY21 was down 55 per cent to ₹36.6 crore. The company reported a net profit of ₹82 crore in the same period last year.
However, the company, a wholly owned subsidiary of Sundaram Finance, said that the results of the two periods are not comparable as net profit in the year-ago quarter had an exceptional item of ₹60 crore on account of write back of deferred tax liability.
The company said that on a comparable basis, profit from continuing operations for Q4FY21 went up 68 per cent to ₹36.60 crore (₹21.68 crore), excluding the one-time exceptional item of ₹60 crore during Q4FY20.
Ahead of Market: 12 things that will decide stock action on Friday
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Last Updated: May 20, 2021, 10:20 PM IST
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Analysts said, Nifty may end up going back to a broad trading range if it doesn t end up seeing any followup buying.
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