Business

Shriram Transport Finance Company Limited’s Q2 FY23 results

The Board Meeting of Shriram Transport Finance Company Limited (STFC) was held today to consider the unaudited financial results for the second quarter and half- year ended 30th September, 2022.

Financials (Standalone) :

Second quarter ended 30th September, 2022 :

Net Interest Income for the second quarter ended 30th September, 2022 increased by 22.85% to Rs. 2,693.96 crores as compared to Rs. 2,192.82 crores in the same time last year.

Profit after tax climbed by 38.33% to Rs. 1,066.87 crores, compared to Rs. 771.24 crores in the same period last year. Earnings per share (basic) was Rs. 39.44, compared to Rs. 28.71 in the same time the previous year.

Half-year ended 30th September, 2022 :

Net Interest Income for the half-year ending 30th September, 2022 increased by 24.08% to Rs. 5,335.70 crores as compared to Rs. 4,300.27 crores in the same period last year.

Profit after tax climbed by 115.91% to Rs. 2,032.14 crores, up from Rs. 941.18 crores in the same period last year. The earnings per share (basic) are Rs. 75.12, compared to Rs. 35.87 in the same time last year.

Assets under Management :

Total Assets under Management as on 30th September, 2022 stood at Rs. 135,249.34 crores as compared to Rs. 121,646.77 crores as on 30th September, 2021 and Rs. 130,688.86 crores for the first quarter ended 30th June, 2022.

About Shriram Transport Finance Company Limited.

Shriram Transport Finance Company Limited is the flagship company of the Shriram group, which has a strong presence in consumer finance, life insurance, general insurance, stock brokerage, and distribution.

Shriram Transport, founded in 1979, is now one of the country’s major asset financing NBFCs and a comprehensive finance provider for the commercial vehicle industry, seeking to work with small truck owners for all of their asset-related needs.

It has 1,854 branch offices spread across India. It is headquartered in Mumbai and handles assets worth about Rs. 135,200.00 crores, with a live customer base of around 21.90 lacs.

This article was shared with Prittle Prattle News as a Press Release.

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