Shriram City Union Finance Ltd. Q3 FY2015 Net Rises 10.7% to Rs. 142.94 Crore; Income from Operations up 12.5% to Rs. 895.56 Crore

Shriram City Union Finance Limited (Shriram City), the retail lending arm of the Chennai-based Shriram Group and prominent financier of small businesses has announced its third quarter (October-December, 2014) results. Net profit was higher by 10.7 % to Rs. 142.94 crore as compared to Rs. 129.09 crore in the corresponding period last fiscal. Income from Operations stood at Rs895.56 crore in Q3 FY15, up 12.5 % year-on-year. The Net Interest Income for the quarter, at Rs. 567.22 crore surged by 22.3%.

Ms. Subhasri Sriram, Executive Director and CFO, Shriram City Union Finance Ltd., said, “The company saw good traction in its SME and Two Wheeler loan businesses in the third quarter of FY 2015. We expect to round off the year with an even better performance in the fourth quarter.” 

Assets Under Management (AUM) stood at Rs. 16177 crore for the period ended December 31, 2014., of which the Small Enterprise Finance portfolio comprised 53%.  Earnings per share (EPS) for the quarter stood at Rs. 21.69 (Basic) and Rs. 21.65 (Diluted) Capital Adequacy stood at 30.39 %

About Shriram City Union Finance Ltd. (BSE: SHRMCITY, NSE: SHRIRAMCIT):

The twenty eight-year old Shriram City is among the more important players in the retail financing space. The company offers multiple loan products to small business owners and for acquiring assets such as two wheelers, commercial vehicles, passenger vehicles, consumer durables and homes. It also offers loans against gold ornaments and for personal consumption.  A deposit-accepting NBFC, Shriram City is a part of the Rs. 90,000 Crore Chennai-based Shriram Group