Shriram Metropolis Union Finance, part of Shriram Group, is aiming a disbursement of over Rs 6,000 crore within the fourth quarter, a prime firm official mentioned.
In December quarter, its disbursements grew 6.4 per cent year-on-year to Rs 6,197 crore from Rs 5,822 crore within the year-ago quarter.
Near 75 per cent of the corporate’s complete lending is to small and medium enterprises (SME) and two-wheeler segments.
In January, we now have performed effectively each within the two-wheeler and SME segments. Appears to be like just like the fourth quarter goes to be on par or on the identical trajectory of Q3. Disbursements will likely be over Rs 6,000 crore, firm’ managing director and CEO Y S Chakravarti mentioned.
Its assortment effectivity reached the pre-COVID-19 degree of 97-98 per cent within the quarter ended December 31, he mentioned.
The deposit-taking non-banking monetary firm has accredited one-time restructuring price Rs 150 crore. Of that, it has restructured price Rs 12-13 crore thus far.
We count on to finish up with (one-time restructuring of) about Rs 100-115 crore, which might be lower than half a per cent of our complete property underneath administration, he mentioned.
Within the quarter ended December 31, 2020, its revenue after tax declined 5.7 per cent to Rs 280 crore in comparison with Rs 297 crore in the identical quarter of the earlier fiscal.
Through the quarter its asset high quality continued to enhance steadily, with gross stage 3 ranges at 6.46 per cent in comparison with 8.51 per cent a 12 months in the past.
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