Shriram City Union Finance drops after reporting weak Q4 results

Shriram City Union Finance dropped 1.5% to Rs 1,629 at 10:50 IST on BSE after the company's consolidated net profit fell 60.63% to Rs 61.16 crore on 11.79% rise in total income to Rs 1039.24 crore in Q4 March 2016 over Q4 March 2015.

The result was announced before market hours today, 28 April 2016.

Meanwhile, the BSE Sensex was down 32.51 points, or 0.12%, to 26,031.61.

On BSE, so far 109 shares were traded in the counter, compared with an average volume of 4,408 shares in the past one quarter. The stock hit a high of Rs 1,647 and a low of Rs 1,610 so far during the day. The stock hit a 52-week high of Rs 1,980 on 6 May 2015. The stock hit a 52-week low of Rs 1,336.75 on 18 January 2016. The stock had outperformed the market over the past one month till 27 April 2016, gaining 9.53% compared with Sensex's 2.87% gains. The scrip had also outperformed the market in past one quarter, rising 9.85% as against Sensex's 6.42% gains.

The large-cap company has an equity capital of Rs 65.93 crore. Face value per share is Rs 10.

Shriram City Union Finance's board of directors recommended a final dividend of Rs 10 per share for the year ended 31 March 2016 (FY 2016).

Shriram City Union Finance is India's premier financial services company specializing in retail finance. It has a comprehensive range of offerings comprising finance for two wheelers and three wheelers, four wheeler finance (both new and pre-owned passenger and commercial vehicles), personal loans, small business loans, and loan against gold.

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