Shriram City Union reports 2qtr net up 34.2% at Rs 204.49 Cr

Non-banking finance company Shriram City Union Finance's standalone net profit rose by 34.2 per cent to Rs 204.49 crore in the quarter ending September.
The city-based company had registered standalone net profit at Rs 152.31 crore during corresponding period of previous year.
Total income from operations for the three-month period ending September 30, 2016 grew to Rs 1,115.29 crore from Rs 945.48 crore registered during year ago period.
"We have managed to combine growth with improved asset quality in recent quarters. In addition, our incremental lending has comprised high asset quality", Shriram City Union Finance Executive Director and CFO Subhasri Sriram said.

"At the same time, we continue to register growth in line with our guidance across all loan products. We are confident of sustaining our performance in the remainder of the year, given that the festive season has commenced", she said.