Shriram City Union Finance Ltd standalone net profit at 157.74 crore
Standalone income rises 15.5% to Rs.1555.73 crore
Mumbai, January 31, 2017: Prominent NBFC Shriram City Union Finance Limited (Shriram City) today declared its results for the quarter ending 31st December 2016. On a Standalone basis Income from Operations for the quarter ended December 2016, was at Rs.1555.73 crore, higher by 15.5%, year on year. Net Interest Income, was at Rs. 762.43 crore, a growth of 17.7%. Net Profits stood at Rs.157.74 crore, lower by 9.5 %, year-on-year.
Assets Under Management (AUM) grew by 18.6% to aggregate Rs. 22544 crore. Subsidiary Shriram Housing Finance Ltd. logged a growth of 69.4 % in Assets Under Management at Rs. 1833.4 crore and reported Net Profits of Rs. 23.7 crore.
Said Mr. Y. S. Chakravarti, COO, Shriram City Union Finance Ltd. "We have been able to manage to overcome the challenges imposed on account of demonetisation and are confident that in the coming quarters we would be able to get back the business rhythm that prevailed upto October 16.”
