Shriram City Union Finance Ltd standalone net profit rises 34.3%

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Mumbai, October 27, 2016 (GPN) : Prominent NBFC Shriram City Union Finance Limited (Shriram City) today declared its results for the second quarter of FY2017 ended 30th September 2016. Standalone Net Profits stood at Rs. 204.49 Crore, a growth of 34.3%, over the same period last year. Income from Operations, at Rs. 1115.29 Crore was higher by 18 %. Net Interest Income grew by 22.3% and stood at Rs. 735.13 Crore.

Assets Under Management (AUM) grew by 18% to aggregate Rs. 21390 Crore. Subsidiary Shriram Housing Finance Ltd. logged a growth of 75% in Assets Under Management at Rs. 1753 Crore and reported Net Profits of Rs. 10.1 Crore.

Said Ms. Subhasri Sriram, Executive Director & CFO, Shriram City Union Finance Ltd. “We have managed to combine growth with improved asset quality in recent quarters. In addition, our incremental lending has comprised high asset quality. At the same time, we continue to register growth in line with our guidance across all loan products. We are confident of sustaining our performance in the remainder of the year, given that the festive season has commenced.”

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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