Shriram City Union Finance Q4 net nearly doubles to Rs 298 cr

Shriram City Union Finance on Friday reported a nearly two-fold rise in consolidated net profit at Rs 298.28 crore for the last quarter of fiscal ended March 2021. The non-banking finance company said it has considered an additional expected credit loss provision of Rs 117 crore and Rs 283 crore on account of COVID-19 during the quarter and year ended March 2021, respectively.

Shriram City Union Finance on Friday reported a nearly two-fold rise in consolidated net profit at Rs 298.28 crore for the last quarter of fiscal ended March 2021. The company's net profit was Rs 150.92 crore in the corresponding period of 2019-20. Total income in Q4 FY21 was slightly up at Rs 1,599.64 crore as against Rs 1,547.59 crore earlier, the company said in a regulatory filing. The non-banking finance company said it has considered an additional expected credit loss provision of Rs 117 crore and Rs 283 crore on account of COVID-19 during the quarter and year ended March 2021, respectively. The board of the company has recommended a final dividend of Rs 13 per share for the fiscal. Stock of the company closed 2.48 per cent lower at Rs 1,409.60 apiece on BSE.

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