Stocks

Shriram Transport Finance sees best day in over 9 months on Q1 profit

Reuters July 25 | Updated on July 25, 2019 Published on July 25, 2019

Non-bank lender, Shriram Transport Finance's shares rose as much as 9.15 per cent to Rs 1,010 rupees, its biggest intra-day per cent gain since October 12, 2018.

The company posted a 11 per cent jump in June-quarter profit to Rs 634 crore ($91.95 million); total revenue was up 8.7 per cent to Rs 4,054 crore. 2.2 million shares changed hands in early trade versus the 30-day average of 2.9 million shares.

Up to last close, the stock had fallen 25.4 per cent this year, while peer Mahindra and Mahindra Financial Services Ltd, which reported a 74.6 per cent fall in Q1 profit, had lost ~35.3 per cent ($1 = 68.9510 Indian rupees).

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Published on July 25, 2019
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