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Shriram Transport Finance Company (STFC) posted a seven per cent increase in its first quarter consolidated net profit helped by higher interest income earned by the company.
The asset finance non-bank finance company (NBFC) posted a profit of Rs 366 crore in the quarter ended June 30, 2013, against Rs 342 crore, a year earlier.
Net interest income (NII) or the difference between interest earned and interest expended, increased 14 per cent to Rs 963 crore.
Total income increased 25 per cent to Rs 2,003 crore. Finance costs increased 44 per cent to Rs 937 crore (Rs 652 crore).
Shares of STFC were trading at Rs 674.20, up 1.80 per cent on the Bombay Stock Exchange at 3.10 pm IST.
>satyanarayan.iyer@thehindu.co.in
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