 "Shriram Transport Finance Company net down 1.1% in Q3")
Shriram Transport Finance Company (STFC) reported a 1.10% drop in consolidated net profit to Rs 321.27 crore for the third quarter ending December 31 due to increase in finance costs and provisions and write-offs.
The finance costs rose to Rs 1,206.11 crore during the quarter compared with Rs 1,123.01 crore in the same period the previous fiscal.
The provisions and write offs rose to Rs 348.25 crore compared with Rs 329.86 crore in the same period in the previous fiscal. The net interest Income for the third quarter December 31 grew by 10% to Rs 1,106.27 crore compared with the same period a year ago.
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