Shriram City Union Finance Q2 net profit up 8.66 pct

Shriram City Union Finance has reported a 8.66 per cent increase in second quarter net profits at Rs 138 crore.

The city-based company, which is the retail lending division of the Shriram Group, had reported Rs 127 crore during the corresponding period of previous year.

“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 second half of this fiscal,” Shriram City Union Finance Director G S Sundararajan said.

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He said assets under management stood at Rs 15,557 crore for the period ending September 30, 2014. The Capital Adequacy Ratio stood at 30.44 per cent, he said.

The company has declared an interim dividend of Rs 4.50 per equity share of Rs 10 each, the statement said.