13 May, 2009

Fourth Quarter revenues surge by 29.56%

Wednesday, 13th May, 2009, Mumbai : The Board Meeting of Shriram Transport Finance Company Limited (STFC), the largest asset financing NBFC in the country, was held today to consider the audited financial results for the year ended 31st. March, 2009.

The revenues for the fourth quarter ended 31st March, 2009 surged by 29.56% to Rs.995.29 crores as against Rs. 768.19 crores of the same period previous year. The profit after tax rose by 37.54% to Rs. 153.85 crores as against Rs. 111.86 crores recorded in the same period earlier year.

The revenues for the year ended 31st March, 2009 surged by 49.72% to Rs.3,692.43 crores as against Rs. 2466.19 crores of the previous year. The profit after tax rose by 57.10% to Rs. 612.40 crores as against Rs. 389.82 crores recorded in the earlier year. The earning per share also surged by 48.62% to Rs. 30.11 from Rs. 20.26 recorded in the earlier year.

STFC has proposed a final dividend of Rs. 4/- per share, this is in addition to the interim dividend of Rs. 1/- per share declared at the Board Meeting held on 24th October, 2008 making the total dividend of Rs. 5/- per share as against the total dividend of Rs. 5/- per share paid for 2007-08.

The Board approved raising of funds by way of a public issue of secured, redeemable non-convertible debentures not exceeding Rs. 1,000 crores in one or more tranches, pursuant to the provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

The Board also approved the proposal to form a wholly owned subsidiary to focus on equipment finance business.

Total Assets under Management as on 31st March, 2009 increased by 19.26% to Rs. 23,278 crores as compared to Rs. 19,520 crores as on 31st March, 2008.

About Shriram Transport Finance Company Limited.
Shriram Transport Finance Company Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Stock Broking and Distribution businesses. Established in 1979, Shriram Transport is today the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets. It has PAN India presence with 484 branch offices. Based at Mumbai, it manages assets over Rs 29,000 crores and has a live customer base exceeding 7,00,000.

For Further information, please contact:

Mr. Sanjay K. Mundra

Vice President

Shriram Transport Finance Company Ltd.

Wockhardt Towers,
3rd Floor, West Wing, G Block,
Bandra-Kurla Complex,
Bandra (East),
Mumbai - 400051.
Email:
Telephone: 022-40959595