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Shriram Transport’s December quarter (Q3) results was the first in perhaps two years that the financier did not disappoint the Street on any aspect – whether growth, asset quality or demand revival. The Street rewarded the stock with over 16 per cent gains reacting to results announced after market hours on Thursday.
For a company that went into a slump even before Covid for reasons like high cost of funds, weak demand and consequently asset quality pressures, Q3’s mere 1.6 per cent increase in net interest income, backed by 5.5 per cent increase in AUM (assets under management) growth was
