Shriram Transport Finance Q2 Net dips to Rs 351.93 cr

Company reported consolidated net profit at Rs 362.57 crore in the the same quarter last year

Shriram Transport Finance today reported a marginal decline in its consolidated net profits at Rs 351.93 crore for the second quarter of this fiscal.

The city-based company had reported consolidated net profit at Rs 362.57 crore in the the same quarter last year.

For the half-year ending September 30, 2013, the net profit of the company increased to Rs 718.20 crore from Rs 704.65 crore during the same period a year ago.

Total income from operations for the second quarter rose to Rs 2,100.44 crore from Rs 1,708.18 crore in the corresponding period last year.

For the half-year ending September 30, 2013 the total income from operations soared to Rs 4,129.72 crore from Rs 3,307.68 crore in the year ago period.

 Total assets under management as on September 30, 2013 surged by 22.65% to Rs 56,992.76 crore compared to Rs 46,465.90 crore as on September 30, 2012, it said.

The board of directors declared an interim dividend of 30% Rs 3 per equity share, the record date for the entitlement thereof has been fixed as November 15, 2013. The dividend payout would absorb Rs 79.63 crore (including dividend tax), the statement added.

Shares of the company ended at Rs 572.50 apiece up by 2.78% over previous close in BSE.