Shriram Transport Finance Q2 net profit rises 38% to Rs 1,067 crore

The operating profit for the second quarter of the current financial year was up by 24 per cent to Rs 2,131 crore compared to Rs 1,717 crore during the same period in 2021-22

Shriram Transport Finance Company (STFC), the flagship company of the Shriram Group, has posted a 38 per cent rise in net profit during the second quarter of the financial year 2022-23 to Rs 1,067 crore as compared to Rs 771 crore during the same quarter in the previous financial year.

The company’s total income for the quarter under review saw a 14 per cent increase to Rs 5,351 crore, compared to Rs 4,703 crore during the July to September quarter of 2021-22. “The demand for both new and used vehicles went up and disbursements were strong. The collections were equally