Shriram City Union rises 4% as June quarter profit shows sequential growth

Shares of Shriram City Union Finance rose as much as 4.43 per cent to Rs 692 on the BSE on Wednesday after the announcement of its results for the June quarter of FY21 (Q1FY21). The company's net profit declined 24 per cent on a year-on-year (YoY) basis to Rs 192.27 crore. However, the same was up 26 per cent from Rs 153.08 crore on a sequential basis.

Total income on a standalone basis for the quarter ending June 30, 2020 stood at Rs 1,414.57 crore against Rs 1,487.27 crore registered in the same period last fiscal.

For the year ending March 31,