Shriram Transport Finance Ltd. Q2 Results for the FY 2016-17

The Board Meeting of Shriram Transport Finance Company Limited (STFC), one of the largest asset financing NBFC in the country, was held today to consider the unaudited standalone financial results for the second quarter ended 30^th September, 2016.

Financials (Standlone)

Second quarter ended 30^th September, 2016
The Net Interest Income for the second quarter ended 30^th September, 2016 stands at Rs. 1,352.99 crores as against Rs. 1,193.79 crores in the same period of the previous year. The profit after tax stands at Rs. 387.65 crores as against Rs. 338.10 crores recorded in the same period of the previous year. The earning per share (basic) stands at Rs. 17.08 as against Rs. 14.90 recorded in the same period of the previous year.
 

Assets under Management
Total Assets under Management as on 30^th September, 2016 stands at Rs. 75,322.58 crores as compared to Rs. 63,252.97 crores as on 30^th September, 2015.
 

Interim Dividend
The Board declared an Interim Dividend of Rs 4.00 (40%) per share, the Record Date for the entitlement thereof has been fixed as November 04, 2016. The dividend payout would absorb a sum of Rs. 109.23 crores (including dividend tax).

Change in Managing Director & CEO
Shriram Transport Finance Company Ltd also announced that its Board of Directors has appointed Mr. Umesh Revankar as Managing Director & CEO of Shriram Transport Finance Company Ltd in the interest of continuity following the induction of Mr.Jasmit Singh Gujral into Shriram Capital Ltd. The change will take effect from October 26, 2016.

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 899 branch offices. Based at Mumbai, it manages assets over Rs 75,000 crores and has a live customer base exceeding 13.50 lacs.