Shriram Group Q1FY07 net profit up 60% at Rs 10.57 cr

New Delhi, July 28 (UNI) The Shriram Group, a major player in the Indian financial services sector, today reported a 60 per cent increase in its net profit at Rs 10.57 crore for the first quarter ended 30 June, 2006, as against Rs 6.6 crore for the same period last year.

Revenues for the period surged by 30 per cent to Rs 61.12 crore as against Rs 46.82 crore, last year.

The South-India based Shriram group, is a leading Chit and Truck financing business, and manages funds of over Rs 7,000 crore in this space, while having a significant presence in consumer durable financing, insurance broking and stock broking.

The company also forayed in the insurance space with a joint venture with Sanlam Life Insurance in May last year.

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