Shriram Transport Finance jumps on stellar Q2 performance

Shriram Transport Finance Company advanced 3.58% to Rs 1,108 after consolidated net profit soared 25.4% to Rs 768.29 crore on 6.9% rise in total income to Rs 4,219.82 crore in Q2 September 2019 over Q2 September 2018.

The announcement was made after trading hours yesterday, 24 October 2019.

On a standalone basis, net profit also jumped 25.5% to Rs 765.05 crore on 6.9% increase in total income to Rs 4,219.82 crore in Q2 September 2019 over Q2 September 2018.

Standalone net interest income for Q2 September 2019 was at Rs 2,036.76 crore as against Rs 2,050.91 crore in the same period of the previous year.

Total assets under management as on 30 September 2019 stands at Rs 1,08,120.24 crore as compared to Rs 1,04,379.83 crore as on 30 September 2018.

Cash & cash equivalents rose 108.99% to Rs 756.47 crore as on Q2 September 2019 from Rs 361.97 crore in Q2 September 2018.

Meanwhile, the S&P BSE Sensex was down 7 points or 0.02% to 39,013.40.

On the BSE, 18,790 shares were traded in the counter so far compared with average daily volumes of 34,119 shares in the past two weeks. The stock hit an intraday high of Rs 1,112.35 and an intraday low of Rs 1,066.55 so far during the day.

The stock hit a 52-week high of Rs 1,296.75 on 13 March 2019. The stock hit a 52-week low of Rs 909.25 on 24 July 2019.

Shriram Transport Finance Company is an asset financing non-banking finance company. The firm is engaged in providing finance for commercial vehicles and other loans. The company operates through financing segment. It operates through a network of approximately 850 branches.

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