Q1 FY21 Results: Shriram Transport profit declines 50% to Rs 320.06 crore

Chennai based NBFC Shriram Transport Finance Company (STFC) reported a 50% decline in consolidated net profit at Rs 320.06 crore in the first quarter ended June. The company had posted a net profit of Rs 634.25 crore in the same quarter a year ago.

Chennai based NBFC Shriram Transport Finance Company (STFC) reported a 50% decline in consolidated net profit at Rs 320.06 crore in the first quarter ended June. The company had posted a net profit of Rs 634.25 crore in the same quarter a year ago.

However, total income of the non-banking finance company (NBFC) rose to Rs 4,144.70 crore during Q1 FY21 from Rs 4,031.18 crore in the FY20 Quarter, STFC said in a regulatory filing.

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Total assets under management (AUM) as on June 30, 2020 stood at Rs 1.12 lakh crore as compared with Rs 1.06 lakh crore a year ago, it said. The Shriram Group company has presence in leasing and hire purchase in consumer finance, general insurance, stock broking and distribution business.

In August 14 11:03, the stock was trading at Rs 715.65 on the NSE.