Shriram Transport Finance gains as Q2 revenue jumps 20 per cent YoY

The company posted its Q2 numbers on Friday and the company’s revenue has jumped 20 per cent YoY and stood at Rs. 3,937.99 crore in Q1FY19 versus Rs. 3,258.66 crore. The PBIDT has also gone up 20 per cent in the September end quarter of FY19 and came in at Rs. 2,788.81 crore as against Rs. 2,323.35 crore in the same quarter of the previous year. The profit after tax (PAT) in Q2FY19 was recorded at Rs. 609.58 crore posting an increase of 22.60 per cent YoY from Rs. 497.22 crore. 

Shriram Transport Finance Company Ltd is one of the largest asset financing NBFCs in India with a niche presence in financing pre-owned trucks and Small Truck Owners (STOs). The services offered by the company include Commercial Vehicle Finance, Passenger Commercial Vehicle Finance, Multi Utility Vehicle Finance, Three-wheeler Finance, Tractor Finance and Construction Equipment Finance. 

On Friday, the shares of the company opened at a slightly higher level at Rs. 1,100 per share against Thursday’s close of Rs. 1,081.30 on the BSE. At 12:59 hours, the share was trading at Rs. 1,090.15, up 0.82 per cent. The intraday high was Rs. 1,112.85 and intraday low was Rs. 1,042.75 per share on the BSE. Its 52-week high was Rs. 1,670.60 and 52-week low was Rs. 903.50 per share on the BSE. Meanwhile, BSE Sensex was at 33,590.62 level, down 0.30 per cent.