Shriram Asset Management Co Q4 net loss widens

Shriram Asset Management Company has reported a net loss of Rs 56.16 lakh for the fourth quarter ending March 31, 2015.
The company had registered a net loss at Rs 43.97 lakh during the corresponding period of the previous year.
For the financial year ending March 31, 2015 the net loss stood at Rs 70.06 lakh as against Rs 1.59 crore net loss registered during same period of previous year, Shriram Asset Management Company said in a BSE filing.
Total income from operations for the January-March 2015 quarter rose to Rs 10.02 lakh from Rs 6.87 lakh during the same period of the previous year.

For the full year, total income from operations grew to Rs 35.02 lakh from Rs 9.36 lakh registered during the same period of previous year.
The Board of Directors also approved an increase in authorised share capital of the company to Rs 25 crore.
Besides, the board also gave its nod to issuance of redeemable non-convertible preference shares not exceeding Rs 10 crore by way of private placements, subject to approval of shareholders.
The company also appointed Chandana Dutt as Chief Financial Officer.