The Hindu Business Line : Shriram Transport organises truck utsav

Visakhapatnam, Jan.29 Shriram Transport Finance Company Ltd is organising a “truck utsav” here on Wednesday and Thursday at Nehru Place, Visakhapatnam port sports stadium, from 11 a.m to 5 p.m.

Mr R. Sridhar, Managing Director, said, “Our target is to take our customer base to one million and to touch the Rs 25,000-crore mark asset base by 2010. We have been growing exponentially during the past three years.”

He said that the “utsav” would give an opportunity to truck owners to familiarise themselves with various products.Cultural programmes and a medical check-up are also arranged, as part of this event. More than 10,000 truck operators are expected to attend the two-day event, being organised here for the first time.

Financials

The company’s revenue for the third quarter rose by 78 per cent to Rs 660.80 crore against the corresponding period last year and the profit before tax to Rs 161.77 crore against Rs 88.15 crore last year.

The profit after tax was Rs 107.10 crore against Rs 54.98 crore last year.

The total revenue for the nine months in the current fiscal was Rs 1,713.29 crore against Rs 978.38 crore last year, and the profit after tax Rs 274.37 crore against Rs 142.03 crore last year.

General insurance

Mr Sridhar also said the company aims to enter the general insurance segment in three months or so. “We already have a life insurance company, based in Hyderabad, with Sanlam (South African company) as our partner. With the same partner, we are getting into general insurance. This company will be based in Jaipur,” he said.

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