Motilal Oswal: Shriram City Union Finance - Healthy Improvement In Asset Quality
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Motilal Oswal Report
Shriram City Union Finance Ltd.’s Q2 FY21 profit after tax declined 14% YoY to Rs 2.6 billion (41% beat).
While pre-provision operating profit was in line with our estimates at Rs 5.6 billion, lower credit costs drove the profit after tax beat.
Collection efficiency has been healthy across segments. In H1 FY21, net interest income/PPoP/PAT declined 6%/2%/18% YoY
Disbursements improved sequentially from Rs 13 billion to Rs 31 billion, but remained at approximately 60% of YoY levels.
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