Motilal Oswal: Shriram City Union Finance - Healthy Improvement In Asset Quality
An employee counts Indian one hundred rupee banknotes in a branch in New New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

Motilal Oswal: Shriram City Union Finance - Healthy Improvement In Asset Quality

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

Motilal Oswal Shriram City Union Finance Q2FY21 Result Update.pdf

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