SF Holdings operates as a holding company primarily owning a portfolio of automotive businesses.
Sundaram Finance Holdings Limited, (SF Holdings) has reported 22% growth in its consolidated net profit at Rs 33.63 crore for the third quarter ended December.
Total revenue grew by 21% to Rs 17.21 crore. Dividend received from portfolio companies more than doubled to ₹29.38 crore, it said in a statement
SF Holdings operates as a holding company primarily owning a portfolio of automotive businesses. As a result, dividends from portfolio companies make up a substantial portion of the financial results.
During the quarter, SF Holdings sold 1.50% stake in Sundaram Clayton Limited for a total profit of ₹124.66 crore, taking its stake to 9.74%. Using the proceeds of disinvestment, the Board declared a special dividend of ₹1.
SF Holdings made a follow-on investment of €2 million in Mind Sri, Italy, bringing its total stake to 48.86%.
In addition, it has promoted a greenfield unit (Sundaram Composite Structures Pvt Ltd) for manufacturing carbon fiber components in Tiruvallur district of Tamil Nadu with an initial investment of Rs 19.50 crore. It had acquired 60% stake in it.
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