Shriram Transport Finance zooms 13% on strong Q3FY20 results

Its gross non-performing assets ratio improved 10bp in December quarter on sequential basis, driven by lower net slippages.

Shares of Shriram Transport Finance Company surged 13 per cent to Rs 1,113 on the BSE on Tuesday on stable assets quality with gross non-performing assets (GNPL) ratio improving 10bps in December quarter on sequential basis, driven by lower net slippages.

The company's net profit grew 38.1 per cent year on year (y-o-y) to Rs 882 crore in the quarter ended December 2019 (Q3FY20). Profit before tax (PBT) rose by 20.6 per cent at Rs 1,186 crore in the quarter on rise in other income and fall in loan losses and provisions.

The net interest income (NII) in reporting