Shriram City Union Finance Ltd's Q3FY17 standalone net profit declines 9.5% yoy to Rs.158 crore : Estimates Mixed

India Infoline Research Team | January 30, 2017 18:21 IST

Shriram City Union Finance Ltd Q3FY17

Standalone Results Q3FY17: (Rs. in crore)

Q3FY17 YoY (%)
NII 762.40 17.7
Net Profit (adjusted) 157.70 [9.5]


Shriram City Union Ltd reported its Q3FY17 numbers which came in mixed from street estimates. NII for the quarter came in 2.2% above the estimated figure of Rs. 746 crore. However, net profit stood 18.3% below the estimate of Rs. 193 crore.

Company’s AUM in Q3FY17 surged 18.6% yoy to Rs. 22,544 crore.

NII for the quarter was reported at Rs. 762 crore, registering growth of 17.7% yoy. This was due to interest expenses growing at a slower pace of 11.4% yoy than interest earned (15.5%).

Provisions for bad loans for the quarter increased 78.3% yoy to Rs. 224 crore.

Net profit for the quarter declined 9.5% yoy to Rs. 158 crore. This was due to higher provisions for bad loans.

The company’s GNPA and NNPA stood healthy at 4.49% and 0.57% respectively.

Technical View:

Shriram City Union Finance Ltd is currently trading at Rs. 2034.1, up by 22.7 points or 1.13% from its previous closing of Rs. 2011.4 on the BSE.
The scrip opened at Rs. 1999.65 and has touched a high and low of Rs. 2040 and Rs. 1990 respectively. So far 14221(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

BSE 2,090.95 [30] ([1.41]%)
NSE 2,093.85 [32.05] ([1.51]%)

***Note: This is a NSE Chart

 

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