The Board Meeting of Shriram City Union Finance Limited (SCUF), the retail-asset financing NBFC of the Shriram Group, was held today to consider the audited financial results for the year ended 31st. March, 2007.
The company registered revenues of Rs. 348.98 Crores for the year, a growth of 70.44% as against revenues of Rs. 204.75 Crores for the previous year. The profit before tax increased by 65.06% to Rs. 79.43 crores as against Rs. 48.12 crores achieved in the earlier year. The profit after tax rose by 62.98% to Rs. 51.62 Crores as against Rs. 31.67 Crores for the earlier year.
Revenues for the fourth quarter ended 31st March 2007 at Rs. 112.68 crores surged by 103.36% compared to Rs. 55.41 Crores of the same period in the previous year. The profit before tax, at Rs. 24.12 Crores grew by 67.85% compared to Rs. 14.37 Crores registered in the corresponding period of the previous year, and the profit after tax, at Rs. 15.21 Crores for the quarter also rose by 61.29% against Rs. 9.43 Crores recorded in the earlier corresponding period.
SCUF has proposed a final dividend of 20%, which is in addition to the interim dividend of 10% declared at the Board Meeting held on 30th November, 2006, bringing the total dividend to 30%, the same as was paid for the year 2005-06.
Total Assets under Management as on 31st March 2007 increased by 92.31% to Rs. 2500 Crores as compared to Rs. 1300 Crores as on 31st March 2006.
