by Sachin Murdeshwar
Mumbai : Leading Small Business financier Shriram City Union Finance Limited (Shriram City) has declared its results for the first quarter of Financial Year 2019.

Standalone Net Profit for the year based on Indian Accounting Standards (“IND AS”) was at Rs. 230 Crore for the Quarter, higher by 15%. Assets Under Management, at Rs. 29193 Crore were up 20.50%.

Mr. R. Duruvasan, MD & CEO, Shriram City commented:”We are pleased to report a healthy First Quarter, a period that is usually represented by somewhat slower growth. We are also seeing a gradual improvement in asset quality, in line with our guidance. Our results also bear out our growth guidance for fiscal 2019.”