Shriram City Union Finance Ltd – Q2 FY2015 Net Rises 8% to Rs. 138cr; Income from Operations Also Up 8% to Rs. 848cr

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 second quarter (July-September, 2014) results. Net profit was higher by 8% to Rs. 138 crore as compared to Rs. 127 crore in the corresponding period last fiscal. Income from Operations stood at Rs .848 crore in Q2 FY15, also up 8% year-on-year. The Net Interest Income for the quarter, at Rs. 510 crore surged by 15%.

Mr. G.S. Sundararajan, Director, Shriram City Union Finance Ltd., said, “Our Company’s growth in its core areas of financing small businesses, two wheelers and against gold continues to be robust. The advent of a long festive season should see us registering an even stronger performance in the second half of this fiscal.”

Assets Under Management (AUM) stood at Rs. 15,557 crore for the period ended September 30, 2014., of which the Small Enterprise Finance portfolio comprised 52%.  Earnings per share (EPS) for the quarter stood at Rs. 20.91 (Basic) and Rs. 20.88 (Diluted) Capital Adequacy stood at 30.44%

The Company has declared an interim dividend of Rs. 4.50 (i.e. 45%) per equity share of Rs. 10 each.

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, consumer durables 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.

For more information:

Deepika Singh,

Corporate Communications,

Mob: +91 9833989240;

Email: deepika@shriram.com;

Adfactors PR:

Nikhil Mansukhani,

Mob: 09833552171, 09820531932