Shriram City PAT up 10.5% on-yr at Rs 1.52 bln

Mumbai : Shriram City Union Finance Ltd reported a 10.5% on-year rise in Jul-Sep net profit to 1.52 bln rupees due to a rise in income from operations. Income from operations stood at 9.45 bln rupees. Within total expenditure, provisions and write-offs increased 8.3% on year to 1.18 bln rupees. G.S. Sundararajan, Director, Shriram City Union Finance Ltd. “A healthy growth in AUM across the business verticals and more specifically in the MSME segment positions Shriram  City Union Finance and its Housing subsidiary very well for the second half of this fiscal which is generally much better for the BFSI industry. Focus continues to be in penetrating existing geographies and expanding steadily into new areas but sticking to our niches in all the business verticals.”