Leading non-banking finance company (NBFC) Sundaram Finance’s subsidiaries in the mutual fund and general insurance businesses maintained their impressive performance in 2017-18, even as its housing finance business came under pressure.
The mutual fund arm, Sundaram Asset Management Company, posted a profit after tax (PAT) of Rs. 38.24 crore, compared to Rs. 30.73 crore in 2016-17. The average assets under management (AUM) amounted to Rs. 34,306 crore for FY18 ( Rs. 28,260 crore in FY17). The company recommended a dividend of 40 per cent ( Rs. 4 per share), according to the latest annual report of Sundaram Finance.
