Sundaram Finance Holdings Ltd, a part of the TSF Group, has registered a 173% rise in its consolidated net profits for the March 2024 quarter, at Rs 269.32 crore. The city-based company had recorded a consolidated net profit of Rs 98.62 crore during the corresponding quarter last year.
For the year ending March 31, 2024, the consolidated net profits grew by 125% to Rs 533 crore, from Rs 237 crore a year ago, Sundaram Finance Holdings said in a statement here on Wednesday.
The Board of Directors has recommended a final dividend of Rs 2.05 per share (41%) for FY23-24. This together with the interim dividends aggregated to Rs 7.70 per share (154%) for FY23-24.
Sundaram Finance Holdings primarily operates as a holding company owning a portfolio of automotive businesses including foundries, wheels, brakes, turbochargers, and axles.
The dividend from portfolio companies forms a substantial part of the financial results. Dividend received from portfolio companies was Rs 160.40 crore for the year ending March 31, 2024, as against a total dividend of Rs 97.43 crore in FY2022-23, the statement added.
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