Shriram Transport Finance Company jumped 14.46% to Rs 1,080 at 13:02 IST on BSE, after the company declared Q4 result at fag end of trading session on Friday, 29 April 2016.
Meanwhile, the BSE Sensex was down 160.56 points, or 0.63%, to 25,446.06
On BSE, so far 1.95 lakh shares were traded in the counter, compared with an average volume of 37,609 shares in the past one quarter. The stock hit a high of Rs 1,082.20 in intraday trade so far, which is a 52-week high for the counter. The stock hit a low of Rs 955 so far during the day. The stock hit a 52-week low of Rs 736.50 on 21 January 2016. The stock had underperformed the market over the past one month till 29 April 2016, rising 2.82% compared with Sensex's 2.84% gains. The scrip, however, outperformed the market in past one quarter, rising 12.05% as against Sensex's 2.96% gains.
The large-cap company has an equity capital of Rs 226.88 crore. Face value per share is Rs 10.
Shriram Transport Finance Company's net profit fell 54.6% to Rs 143.92 crore on 26.2% rise in total income to Rs 2918.03 crore in Q4 March 2016 over Q4 March 2015. The result was announced at fag end of trading session on Friday, 29 April 2016, when the stock fell 2.28% to settle at Rs 943.60. The stock had declined 5.18% in two trading days to settle at Rs 943.60 on Friday, 29 April 2016 from its close of Rs 995.15 on 27 April 2016.
Shriram Transport Finance Company's net profit fell 4.8% to Rs 1178.20 crore on 18.5% rise in total income to Rs 10245.26 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).
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On a consolidated basis, Shriram Transport Finance Company's net profit rose 15.1% to Rs 1183.62 crore on 12.4% rise in total income to Rs 10313.75 crore in FY 2016 over FY 2015.
Shriram Transport Finance Company said that the results of Q4 and FY 2016 includes figures of Shriram Equipment Finance Co which was amalgamated with the company with effect from 1 April 2015 and are therefore not comparable with results of Q4 and FY 2015.
Shriram Transport Finance Company's gross non-performing advances stood at Rs 3870.24 crore as on 31 March 2016 compared with Rs 2535.73 crore as on 31 December 2015 and Rs 1894.14 crore as on 31 March 2015. The ratio of gross non-performing advances to gross advances stood at 6.18% as on 31 March 2016 compared with 4.29% as on 31 December 2015 and 3.8% as on 31 March 2015. The ratio of net non-performing advances to net advances stood at 1.91% as on 31 March 2016 as against 0.88% as on 31 December 2015 and 0.79% as on 31 March 2015. The company's provisions for bad debts jumped 145.08% to Rs 828.21 crore in Q4 March 2016 over Q4 March 2015. The company's provisions for standard assets surged 3971.43% to Rs 28.50 crore in Q4 March 2016 over Q4 March 2015.
Total assets under management rose 23.1% to Rs 72760.60 crore as at 31 March 2016 from Rs 59108.28 crore as at 31 March 2015.
Shriram Transport Finance Company said that the banking and finance committee of the company in its meeting held on 29 April 2016 approved and allotted 150 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 15 crore on private placement basis.
Shriram Transport Finance Company is the largest asset financing NBFC. The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-12 year old trucks.
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