Shriram City Union Finance Ltd. – FY2015 Net Rises 7.1%; Income from Operations up 9.1%

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 fourth quarter (January-March, 2015) results.

Net profit for 12 months ending March 2015 was higher by 7.1 % at Rs.558.06 crore compared to Rs. 521.14 crore in the previous year. Income from Operations stood at Rs.3482.24 crore in FY15, up 9.1% over FY14. Net Interest Income increased by 16.2% and was at Rs.2139.08 crore compared to Rs. 1840.63 crore for 2013-14.

Ms. Subhasri Sriram, Executive Director and CFO, said, “In keeping with our sustained efforts at rewarding investors, we have declared a 150% dividend. On the operational front, we continue to make steady progress in our main product lines of SME and Two Wheeler financing”.

Assets Under Management (AUM) stood at Rs.16717 crore for the year 2014-15., of which the Small Enterprise Finance portfolio comprised 53%.  Earnings per share (EPS) for the year stood at Rs. 86.18 (Basic) and Rs. 86.03 (Diluted). Capital Adequacy stood at 29.55 %

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 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.