Shriram City Union Finance down on muted sales numbers

BL Internet Desk | Updated on October 30, 2019

The stock of Shriram City Union Finance went down today on the back of selling pressure after the comany reported muted sales numbers for the second quarter ended September 30, 2019.

At 11.20 am, the stock was down by Rs 22 or 1.70% to Rs 1,317.75 on the BSE.

Shriram City Union Finance's net Sales were at Rs 1,489.23 crore in Q2FY20, down 1.7% from Rs 1,514.97 crore YoY.

However, its quarterly net profit was at Rs 297.50 crore in Q2FY20, up 19.35% from Rs 249.27 crore YoY. EBITDA stood at Rs 936.54 crore in Q2FY20 up by 6.77% from Rs 877.12 crore YoY.

Shriram City Union Finance had recently issued secured redeemable non-convertible debentures (NCDs) with a base issue size of ₹100 crore, with an option to retain oversubscription to the extent of ₹900 crore. The bond carried an interest rate of 9.85 per cent payable annually,

Published on October 30, 2019

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