Monday, 31st. January, 2011, Goa : The Board Meeting of Shriram Transport Finance Company Limited (STFC), the largest asset financing NBFC in the country, was held today to consider the Unaudited financial results for the third quarter ended 31st. December, 2010.
The Net Interest Income for the third quarter ended 31st. December, 2010 surged by 45.34% to Rs. 836.65 crores as against Rs. 575.64 crores recorded in the same period previous year. The profit after tax rose by 27.26% to Rs. 301.36 crores as against Rs. 236.81 crores recorded in the same period previous year. The earning per share surged by 19.62% to Rs. 13.35 from Rs. 11.16 recorded in the same period earlier year.
Provisions on Standard Assets :-
The Company has made a first time provision of Rs. 55.27 crores during the quarter on the standard assets outstanding as on 31st. December, 2010 as per the Reserve Bank of India directions to all NBFCs to make 0.25% on the standard assets vide its notification dated January 17, 2011.
Total Assets under Management as on 31st. December, 2010 stood at Rs. 33,779.68 crores as compared to Rs. 31,706.82 crores as on 30th. September, 2010. The aforesaid figures are stand-alone financial results of the Company.
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 502 branch offices. Based at Mumbai, it manages assets over Rs 40,000 crores and has a live customer base exceeding 8,50,000.
Vice PresidentShriram Transport Finance Company Ltd.
3rd Floor, West Wing, G Block,
Mumbai - 400051.