Shriram Transport Fin net plunges 73%

Commercial vehicle financier Shriram Transport Finance on Thursday reported a 73 per cent drop in its consolidated profit after tax at Rs 84.23 crore for the quarter ended March. The consolidated profit after tax stood at Rs 314.89 crore in the same period last year. For the full year, consolidated net profit declined 24 per cent to Rs 1,028.44 crore as against Rs 1,357.94 crore in the previous year, a company release said.

Net interest income in the March quarter stood at Rs 1,105.57 crore as against Rs 975.95 crore in the year-ago period.

Total assets under management stood at Rs 62,106.86 crore as on March 31 compared with Rs 56,534.58 crore last year.

On a stand-alone basis, the profit after tax rose marginally by 7.38 per cent to Rs 316.73 crore as against Rs 294.96 crore in the previous year.

On a full-year basis, standalone profit after tax was Rs 1,237.81 crore compared with Rs 1,264.21 crore in the same period last year.

Net interest income in the quarter was Rs 1,085.36 crore as against Rs 920.52 crore.

Shriram Transport Finance is the flagship of the Shriram Group, which has presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.