Shriram City Union Finance registers 70.44% growth

Chennai, June 15 (UNI) Shriram City Union Finance Limited (SCUF), the retail-asset financing NBFC of the Shriram Group, has registered revenues of Rs 348.98 crore for the year, a growth of 70.44 per cent as against revenues of Rs 204.75 crore for the previous year.

The profit before tax increased by 65.06 per cent to Rs 79.43 crore as against Rs 48.12 crore achieved in the earlier year, a company release here today said.

The profit after tax rose by 62.98 per cent to Rs 51.62 crore as against Rs 31.67 crore for the last year.

Revenues for the fourth quarter ended March 31 this year at Rs 112.68 crore surged by 103.36 per cent compared to Rs 55.41 crore of the same period in the previous year.

The profit before tax, at Rs 24.12 crore grew by 67.85 per cent compared to Rs 14.37 crore registered in the corresponding period of the previous year, and the profit after tax, at Rs 15.21 crore for the quarter also rose by 61.29 per cent against Rs 9.43 crore recorded in the earlier corresponding period.

SCUF has proposed a final dividend of 20 per cent, which was in addition to the interim dividend of ten per cent declared at the board meeting held on November 30, 2006, bringing the total dividend to 30 per cent, the same as was paid for the year 2005-06.

Total assets under management as on March 31 this year increased by 92.31 per cent to Rs 2500 crore as compared to Rs 1300 crore as on March 31, 2006, the release said.

UNI