Sundaram Finance Holdings Ltd. (SFHL) on Tuesday reported fourth-quarter consolidated net profit more than doubled from a year earlier to ₹76.20 crore.
Full-year profit too more than doubled to ₹160.70 crore. The board recommended a final dividend of ₹1 per share and a special dividend of ₹0.75 per share, which taken together with the special dividend of ₹1 paid in February would take the total special dividend to ₹1.75, the company said in a press release.
SFHL operates as a holding company owning a portfolio of automotive businesses including foundries, wheels, brakes, turbo chargers, axles, and spare parts distribution.
SFHL divested 11% stake in Sundaram Composite Structures Pvt. Ltd. (formerly BIH Braking Company) paring its holding to 49%. It also sold 22.7 lakh shares of TVS Investments Pvt. Ltd. for a gain of ₹30 crore.