Sundaram Finance's disbursement up 28 per cent

Chennai, May 30 (UNI) Leading financial services company Sundaram Finance Limited (SFL) today announced that it had registered a 28 per cent growth in disbursement in 2006-2007.

The disbursement stood at Rs 4386 crore as on March 31, 2007 as against Rs 3422 crore in the corresponding period last year.

The company registered an operating net profit of Rs 100.47 crore for the year ended March 31, 2007.

Talking to newspersons here, SFL Managing Director T T Srinivasaraghavan said "this has been a year of strong growth for the automobile industry with Medium and Heavy Commercial Vehicles (HCV) leading the way. The performance of Sundaram Finance reflects our strong presence in our chosen areas".

"We have gained market share in the M and HCV segment, lending rates have improved and our asset quality continues to be amongst the best in the industry", he claimed.

On the expansion plans, he said "Sundaram Direct expects to continue its pan Indian expansion this year by opening another 200 offices across the country over the next 12 months". The current expansion plan was expected to double Sundaram Finance's overall presence in the country to over 450 offices.

Mr Srinivasaraghavan said "we will focus on our strengths and continue to provide a superior customer experience. The geographic expansion right across the country, this year, will take us even closer to our customers." UNI SNR AJ 1649