Commercial vehicle financier Shriram Transport Finance reported a 72 per cent jump in net profit to Rs 264.42 crore for the quarter ended March 31, compared with Rs 153.86 crore a year ago.
Total income grew 24.5 per cent to Rs 1229.24 crore in the quarter from Rs 986.92 crore in the corresponding quarter last year.
Income from operations also grew 24 per cent to Rs 1,194.25 crore from Rs 962 crore. The company’s profit was aided by a fall in cost of funds, with interest expenditure rising by a mere 8 per cent to Rs 573 crore in the March quarter from Rs 526 crore a year ago.
Provisions and write-offs increased to Rs 102.22 crore from Rs 81.98 crore in the last quarter of the previous year. For the last financial year, net profit went up to Rs 873.12 crore as compared to Rs 612.41 crore for the year ended March 31, 2009.
Total income increased from Rs 3,731.14 crore for the year ended March 31, 2009 to Rs 4,499.64 crore for the year ended March 31, 2010.
