Shriram City Union Finance Ltd. has reported a 10% increase in standalone net profit for the first quarter ended June 2019 to ₹253 crore. Assets under management grew to ₹30,352 crore, up 4.50%. The lender said in a statement that it disbursed loans worth ₹6,275 crore.
“We generally experience a milder growth environment in the first quarter of any year, with traction coming in only in the second half. Our asset quality continues to improve. The company is also comfortably placed with regard to liquidity and continues to successfully explore sources of funds which are of longer tenors than in the past,” Y.S. Chakravarti, MD and CEO, said.
