Shriram Transport spurts after strong Q1 results

Shriram Transport Finance Company rose 4.72% to Rs 970 at 11:08 IST on BSE after consolidated net profit rose 10.8% to Rs 637.44 crore on a 8.9% increase in total income to Rs 4,061.65 crore in Q1 June 2019 over Q1 June 2018.

The announcement was made after market hours yesterday, 24 July 2019.

Meanwhile, S&P BSE Sensex was up 158.19 points or 0.42% at 38,005.84.

On BSE, 2.11 lakh shares were traded in Shriram Transport Finance Company counter, compared to a 2-week average of 76,000 shares. The share price hit an intraday high of Rs 1,010 and an intraday low of Rs 958.50. It hit a 52-week high of Rs 1,476 on 6 August 2018 and a 52-week low of Rs 903.50 on 8 October 2018.

 

On a standalone basis, net profit rose 10.7% to Rs 634.25 crore on a 8.85% increase in total income to Rs 4,061.65 crore in Q1 June 2019 over Q1 June 2018. The net interest income rose 7.62% at Rs 1,961.74 crore during the period under review.

The total assets under management (AUM) jumped by 5.77% to Rs 106343.48 crore in 30 June 2019 as against Rs 100540.57 crore in 30 June 2018.

Shriram Transport Finance Company is a finance provider for the commercial vehicle industry and seeks to partner with small truck owners for their needs relating to assets.

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