Shriram Transport Finance Company declines on weak Q2 result

Shriram Transport Finance Company declined 2.72% to Rs 898.15 at 10:20 IST on BSE after consolidated net profit fell 11.9% to Rs 310.04 crore on 7.49% rise in total income to Rs 2261.24 crore in Q2 September 2014 over Q2 September 2013.

The company announced Q2 results before market hours today, 21 October 2014.

Meanwhile, the BSE Sensex was up 165.42 points or 0.83% at 26,596.27.

On BSE, so far 3,927 shares were traded in the counter, compared with an average volume of 53,246 shares in the past one quarter.

The stock hit a high of Rs 920 and a low of Rs 891.35 so far during the day. The stock hit a record high of Rs 1021.30 on 10 June 2014. The stock hit a 52-week low of Rs 544.20 on 11 November 2013.

The stock had underperformed the market over the past one month till 20 October 2014, falling 4.20% compared with 2.44% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 3.19% as against Sensex's 3.07% rise.

The large-cap firm has an equity capital of Rs 226.88 crore. Face value per share is Rs 10.

Shriram Transport Finance Company's total asset under management as on 30 September 2014 stood at Rs 58938.90 crore as compared to Rs 56992.76 crore as on 30 September 2013. Net interest income rose 10.86% to Rs 1071.37 crore in Q2 September 2014 over Q2 September 2013. Earning per share (basic) stood at Rs 13.67 in Q2 September 2014 as against Rs 15.51 in Q2 September 2013.

The company said that the Board of Directors of the company at its meeting held on 20 October 2014, inter-alia, has declared an interim dividend of 40% or Rs 4 per share.

The company is a part of the "SHRIRAM" conglomerate which has significant presence in financial services viz., commercial vehicle financing business, consumer finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance products and units of mutual funds. Apart from these financial services, the group is also present in non-financial services business such as property development, engineering projects and information technology.

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