Shriram Transport Finance net up 17% at Rs 374 cr in Apr-Jun

Shriram Transport Finance Company (STFC) has reported an increase of 16.5 per cent in its net profit at Rs 374.10 crore for the quarter ended June 2016.
Net profit was at Rs 321.11 crore in the same quarter of 2015-16.
"Total income is Rs 2,685.99 crore for the quarter ended June 30, 2016, whereas the same was at Rs 2,353.34 crore for the quarter ended June 30, 2015," the company said in a regulatory filing.
STFC said its March quarter numbers include those of Shriram Equipment Finance Company, which has been amalgamated with the firm with effect from April 1, 2015 and are therefore not comparable with other quarters.

STFC's net interest income for the June quarter stood at Rs 1,346.10 crore as against Rs 1,135.61 crore a year ago.
The asset under management as on June 30 stood at Rs 74,808.46 crore compared with Rs 60,531.72 crore year earlier.
STFC, a non-banking finance company, is the flagship of the Shriram Group, which has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.
The stock today closed 3.61 per cent up at Rs 1,255.55 on BSE.