Shriram City Union Fin Q4 net profit up 19 pc at Rs 687 cr

Shriram City Union Finance today reported a 18.8 per cent increase in consolidated net profit at Rs 687 crore for the March quarter of 2017-18.

The Chennai-based company's net profit was Rs 578.08 crore in the year-ago period.

Revenue from operations for the January-March period soared to Rs 5,352.83 crore from Rs 4,703.57 crore, Shriram City Union said in a BSE filing.

The company has recommended a final dividend of Rs 12, or 120 per cent, per equity share of Rs 10 each subject to the approval of the shareholders.

Despite 2018 being a year of challenges, the company has done well on the growth front, especially in the small business loans segment, Shriram City CEO R Duruvasan said.

"We have completed the transitioning of NPA recognition in line with RBI norms, and from here on, the company has an unhindered runway for growth," he said.