Shriram Transport Finance Co Ltd (STFC) on Thursday reported a 10.5 percent decline in net profit at Rs 684.56 crore in July-September quarter of 2020-21. The non-banking finance company had posted a net profit of Rs 765.05 crore in the same quarter last year.
Disbursals spiked quarter-on-quarter (QoQ), assets under management (AUM) growth however remained weak but steady on a sequential basis. Umesh Revankar, MD at Shriram Transport Finance shared his views and outlook on the business going forward.
“We expect the disbursement to be on par with last year’s Q3 and Q4 for the second half of this year. That should give us around 5 percent premium growth for the full year,” he said in an interview with CNBC-TV18.
To know more about the company's Q2 performance and road ahead, watch the video