Shriram Transport up over 4%
By Research Desk
about 11 years ago
Shriram Transport Finance seems to be on the super highway. The stock is up over 4% at Rs.596, close to its 52-week at Rs.599. Volumes are up over 2 times.
The stock is up despite the company posting a not-so-good numbers for Q2FY14. This is one of the largest asset financing NBFC in the country. The company posted a 6% (YoY) rise in net interest income (NII) at Rs.969 crore and net profit is at Rs.352 crore, down 3%. The fall in profit was on the back of rise in bad loans and write-offs. Gross bad loans increased to 3.27% v/s 3.09% (YoY). Provisions and write-offs were up by 25% at Rs.265 crore.
Total assets under management as at 30th Sept 2013 stood at 56,993 crore, up 23%.