Shriram City Union Finance net profit rises by 8 per cent

MUMBAI: Shriram City Union Finance, retail lending arm of the Shriram Group, today reported an 8 per cent increase in its net profit at Rs 138 crore in the September quarter of this fiscal.

It had reported a profit-after-tax of Rs 127 crore in the same period last year.

The income from operations grew 8 per cent to Rs 848 crore in the period.

Net interest income surged 15 per cent to Rs 510 crore. "Our company's growth in its core areas of financing small businesses, two wheelers and against gold continues to be robust," Shriram City Union Finance's director G S Sundararajan said.

The Chennai-based company's assets under management (AUM) stood at Rs 15,557 crore of which the small enterprise finance portfolio comprised 52 per cent.

It declared an interim dividend of Rs 4.50 per equity share of Rs 10 each.