On a consolidated basis, Shriram Transport Finance Company's net profit soared 238% to Rs 754.93 crore on 7.8% increase in total income to Rs 4,497.87 crore in Q4 FY21 over Q4 FY20.
On a standalone basis, the company's net interest income for the fourth quarter ended 31st March 2021 was Rs 2,151.12 crore as against Rs 1,961.74 crore in the same period of the previous year. The profit after tax stood at Rs 754.93 crore (net of COVID-19 provision of Rs 84.22 crore) as against Rs 223.38 crore (net of COVID-19 provision of Rs 909.64 crore) recorded in the same period of the previous year.
The net interest income for the year ended 31 March 2021was Rs 8,167.10 crore as against Rs 8,106.98 crore in the previous year. The profit after tax was Rs 2,487.26 crore (net of COVID-19 provision of Rs 1,681.84 crore) as against Rs 2,501.84 crore (net of COVID-19 provision of Rs 909.64 crore) recorded in the previous year.
Total assets under management as on 31 March 2021 stands at Rs 117,242.83 crore as compared to Rs 109,749.24 crore as on 31 March 2020.
The board of directors has recommended a final dividend of Rs 6 per equity share for the Financial Year 2020-21.
The company's board approved the resource mobilisation plan for FY 2021-22 including issuance of redeemable non-convertible debentures/subordinated debentures (NCDs) on private placement basis in tranches, bonds/notes in off-shore markets, External Commercial Borrowing (ECB) and other methods of borrowing for purpose of business of the company.
Further, the company will seek shareholder's approval for the renewal of authorization for raising capital through issuance of equity shares and/or other eligible securities with an enhanced limit up to Rs 4,000 crore through various permissible modes including qualified institution placement (QIP), preferential issue, public issue, private placement, etc.
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.
Shares of Shriram Transport Finance Company lost 1.72% to Rs 1,391.45 on BSE. The stock hit an intraday low of Rs 1,367 and an intraday high of Rs 1,442.55 so far.
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