 "Shriram City Union net rises 13.5% to Rs 117 crore")
Total income grew 17% to Rs 788 crore Net interest income (NII) rose 16.5% to Rs 432 crore. Net interest margin for the quarter was 11.08% rising 60 basis points year on year (y-o-y).
Gross non performing assets (NPA) were at 2.29% which rose from 1.46% y-o-y. Capital adequacy ratio (CAR) was 19.87%. “Since we have shifted to 150 days recognition norms from 180 days, there is an increase in gross NPAs” said G S Sundararajan, managing director, SCUF. He however added that company has been able to control net NPAs. Net NPA of the company was at 0.67%.
While small enterprises finance and two wheeler financing businesses showed growth but gold loans, auto loans and personal loans declined. Total assets under management of the company are at about Rs 16,000 crore and the share of gold loans in total portfolio has declined to 25% from 36% last September, Sundararajan said.