Shriram City Union Finance Q4 net profit rises 21 pct to Rs 151 cr

Written by PTI | New Delhi | Updated: May 1 2014, 20:00pm hrs
Shriram City Union FinanceThe company had reported net profit of Rs 125.61 crore in the corresponding quarter of previous fiscal. Reuters
Shriram City Union Finance has reported 20.5 per cent rise in consolidated net profit for the quarter ended March 31 at Rs 151.36 crore.

The company had reported net profit of Rs 125.61 crore in the corresponding quarter of previous fiscal.

"Total income has decreased marginally by 0.86 per cent, from Rs 841.14 crore for the quarter ended March 31, 2013 to Rs 833.94 crore for the quarter ended March 31, 2014," it said in a release.

The company also recommended a final dividend of Rs 6 per equity share.

For the full year ended March, consolidated net profit rose 18.41 per cent to Rs 532.16 crore.

The company's total income increased 5.77 per cent, from Rs 3,099.93 crore in FY'13 to Rs 3,278.72 crore in FY'14.

"In FY'14, Shriram City made significant strides in sustaining its status as the largest MSME finance company in the country. Profitability has been robust courtesy healthy growth in retail and MSME segments.

"We aspire to further expand operations by introducing our full range of products in all our business outlets and also growing our business outlet network," the company's Managing Director G S Sundararajan said in a statement.

Shriram City offers multiple loan products to small business owners and also for acquiring assets such as two-wheelers, commercial vehicles, passenger vehicles, consumer durables and homes.