Shriram Transport Finance gains over 6% post March quarter results

The company made a provision of Rs 909.64 crore on account of the Covid-19 impact

Shares of Shriram Transport Finance rose 6.34 per cent to Rs 675.75 on the BSE on Thursday after the company reported a 7.5 per cent growth year-on-year (YoY) growth in March quarter (Q4FY20) revenue to Rs 4,173.04 crore.

The non-banking financial company's consolidated net profit, though, declined 70 per cent YoY to Rs 223.38 crore for the quarter, largely because of the credit loss provision of Rs 909.64 crore the company made on account of the Covid-19 impact.

"The company has used relevant indicators of moratorium, considering various measures taken by government and other authorities along with an estimation of