Finance

Shriram Transport Finance shares rally 9% on strong Q1 earnings

Updated : July 25, 2019 10:49 AM IST

The commercial vehicle financier reported a consolidated net profit of Rs 634.25 crore in the three months ended June 30 versus Rs 572.90 crore in the corresponding period last year.

Total revenues for the quarter gained 9 percent YoY to Rs 4,053.85 crore while the net interest income adavnced 7.62 percent YoY to Rs 1,961.74 crore.

Shriram Transport Finance shares rally 9% on strong Q1 earnings

Shares of Shriram Transport Finance Company surged as much as 9 percent to a day’s high of Rs 1,010 after the company reported an 11 percent rise in June-quarter net profit.

Shriram Transport Finance Company

The commercial vehicle financier reported a consolidated net profit of Rs 634.25 crore in the three months ended June 30 versus Rs 572.90 crore in the corresponding period last year.

Total revenues for the quarter gained 9 percent YoY to Rs 4,053.85 crore while the net interest income adavnced 7.62 percent YoY to Rs 1,961.74 crore.

The company’s asset under management (AUM) stood at 1.06 lakh crore as of June-end compared to Rs 1 lakh crore in June last year.

At 09:40 am, the stock was at Rs 1,000 on the NSE, higher by 8.07 percent.

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