Stake sale in Sundaram Finance Auto and Home Finance

Sundaram Home Finance is a subsidiary of Sundaram Finance. A few months ago, Sundaram Finance had bought out the 25% stake held by multilateral lending agencies, FMO of Netherlands and IFC, Washington, in Sundaram Home Finance for Rs 48.52 crore.

Sundaram Finance’s net profit jumped 54.5% to Rs 22.65 crore in Q3 December 2006, from Rs 14.66 crore in Q3 December 2005. Net sales rose 41.4% to Rs 167.67 crore (Rs 118.54 crore).