Shriram City Union records 1qtr net up at Rs 193.86 crore

Shriram City Union Finance has recorded a 6.6 per cent rise in its first quarter net profits ending June 30, 2017 at Rs 193.86 crore.
The city-based company part of Shriram Group had registered net profits at Rs 181.79 crore during corresponding quarter of previous year.
For the full year ending March 31, 2017, net profits of the company stood at Rs 556.06 crore, Shriram City Union said in a BSE filing.
Total revenue for the April-June 30, 2017 quarter grew to RS 1,219.21 crore from Rs 1,055.00 crore registered during year ago period.
Total revenue for the year ending March 31, 2017 registered at Rs 4,434.53 crore.

Assets under management as of June 30, 2017 stood at Rs 24,053 crore.
"we registered an encouraging performance in the first quarter following the implementation of GST on July 1.", Shriram City Union Finance, Executive Director and COO, Y S Chakravarti said.
"However, the next couple of quarters will be more representative in terms of loan growth trends, especially in the MSME space", he said.