Shriram Transport Finance Q1 net up 20% at Rs 448 cr

Net interest income was up 17% at Rs 1,585 cr

Non-banking finance company, Shriram Transport Finance, reported a rise in net profit of 20 per cent in the April - June quarter owing to an increase in net interest income (NII) and growth of assets under management (AUM).
 

The net profit stood at Rs 448 crore in the June quarter as against Rs 374 crore in the 2016 June quarter. The Net Interest Margin, a key indicator of the company’s profitability, for the quarter rose to 7.51 per cent from 7.35 per cent for the previous year’s June quarter.

Net interest income, the difference between interest earned and interest expended,