Shriram Transport spurts after Q3 net rises 38%

Shriram Transport Finance Company reported 38.2% jump in consolidated net profit to Rs 882.19 crore in Q3 December 2019 as compared to Rs 638.56 crore reported in Q3 December 2018.

Shares of Shriram Transport Finance Company surged 8.87% to Rs 1074.25. The stock rose 12.84% to hit the day's high at Rs 1113.40.

PBT or profit before tax surged 20.6% to Rs 1186.32 crore in Q3 December 2019 from Rs 983.94 crore in Q3 December 2018.

Total income in the December quarter stood at Rs 4288.20 crore, up by 7.4% from Rs 3993.40 crore reported in the same period last year.

Provisions & Write Offs stood at Rs 444.39 crore in Q3 December 2019, down by 30.2% from Rs 636.21 crore in Q3 December 2018.

The net interest income (NII) for the third quarter ended 31 December 2019 stands increased by 1.36% at Rs 2,055.42 crore as against Rs. 2,027.87 crore in the same period of the previous year.

Total assets under management (AUM) as on 31 December 2019 stands at Rs. 108,931.38 crore as compared to Rs. 103,817.94 crore as on 31 December 2018.

Shriram Transport Finance Company, the flagship company of the Shriram group, has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.

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