Shriram Transport Finance Company Ltd (STFC) reported a robust 44 per cent year-on-year increase in fourth quarter standalone net profit at ₹1,086 crore against ₹755 crore in the year-ago quarter.
Net interest income was up 22 per cent yoy at ₹2,628 crore (₹2,151 crore in the year-ago quarter).
As at March-end 2022, the company’s total assets under management (AUM) was up about 8 per cent yoy and stood at ₹1,27,041 crore (₹1,17,243 crore as at March-end 2021).
AUM growth
The total AUM growth was due to 13 per cent growth in used vehicle loans and 21 per cent growth in loans to ‘others’ segment. There was a de-growth in new vehicle loans (-26 per cent), business loans (-33 per cent) and working capital loans (-39 per cent).
Gross stage 3 (credit impaired) assets increased 7 per cent yoy to ₹8,887.55 crore (₹8,295 crore). However, net stage 3 assets declined 7.50 per cent yoy to ₹4,460 crore (₹4,807 crore).
Loan losses and provisions were up 5 per cent yoy to ₹761 crore (₹724 crore).
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