Shriram City tumbles 5% on poor Q3 numbers
“We are confident that in the coming quarters we would be able to get back the business rhythm that prevailed up to October 16,” said Y S Chakravarti, COO at Shriram City Union Finance.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Shriram City Union Finance (SCUF) tumbled nearly 5 per cent in Tuesday’s trade after the company registered a decline of 9.3 per cent in net profit to Rs 157.74 crore for the December quarter, on account of payments delayed following the cash ban.
The company had reported a net profit of Rs 174 crore in the corresponding quarter last year.
The stock fell 4.64 per cent to hit a low of Rs 1,926.40 on BSE.
The company said its assets under management (AUM) climbed 18.6 per cent during the quarter to Rs 22,544 crore. Subsidiary Shriram Housing Finance, on the other hand, reported a growth of 69.4 per cent at Rs 1,833.40 crore.
“We are confident that in the coming quarters we would be able to get back the business rhythm that prevailed up to October 16,” said Y S Chakravarti, COO at Shriram City Union Finance.
The company had reported a net profit of Rs 174 crore in the corresponding quarter last year.
The stock fell 4.64 per cent to hit a low of Rs 1,926.40 on BSE.
The company said its assets under management (AUM) climbed 18.6 per cent during the quarter to Rs 22,544 crore. Subsidiary Shriram Housing Finance, on the other hand, reported a growth of 69.4 per cent at Rs 1,833.40 crore.
“We are confident that in the coming quarters we would be able to get back the business rhythm that prevailed up to October 16,” said Y S Chakravarti, COO at Shriram City Union Finance.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Shriram City Union hikes deposit ratesADVERTISEMENT
