Shriram City Union Finance (Shriram City) has reported a 24% growth in its standalone net profit for the second quarter to ₹349 crore.

During the period, revenue from operations went up by 24% to ₹1,963 crore, it said in a filing.

Disbursements were up 24.9% to ₹8,020 crore, while AUM rose by 18.7% to ₹36,117 crore. Net interest income rose to ₹1,231 crore.

Y. S. Chakravarti, MD & CEO, Shriram City, said: “Economic activity has picked up in 1HFY23 driving demand for credit from rural and semi-urban markets and we expect this momentum to sustain.”

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By Dipak

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