Sundaram Finance reports 38% jump in net profit at Rs 355 cr in FY12

CHENNAI: Truck and car financier Sundaram Finance might have announced on Monday a 38% increase in net profit to Rs 355 crore in 2011-12, excluding a one-time gain in the previous year, but it is wary of making forecasts for the current year.

TT Srinivasaraghavan, managing director of Sundaram Finance, told mediapersons in Chennai, "I cannot give a forecast for 2013, as things are looking uncertain."

He said global and domestic pressures make it difficult and risky to give an forecast.

The company's net profit for 2011-12 was Rs 355 crore, up 38% from Rs 257 crore in 2010-11 (not including a Rs 38 crore one-time gain that year).

In 2011-12, disbursements grew 25% to Rs 9,307 crore from Rs 7,475 crore the previous year.