Monday 26th January, 2022, Mumbai: The Board Meeting of Shriram Transport Finance Company Limited (STFC), was held today to consider the unaudited financial results for the Third quarter ended 31st December, 2021.
Third quarter ended 31 st. December, 2021 : The Net Interest Income for the Third quarter ended 31 st. December, 2021 was at Rs. 2,387.97 crores as against Rs. 2,148.22 crores in the same period of the previous year. The profit after tax was Rs. 680.62 crores as against Rs. 727.72 crores recorded in the same period of the previous year. The earning per share (basic) for the third quarter ended 31 st. December, 2021 stood at Rs. 25.26 as against Rs. 29.54 recorded in the same period of the previous year.
Pursuant to RBI circular RBI/2021-22/125 DOR/STR/REC.68/21.04.048/2021-22 dated November 12, 2021, on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications, the Company has revised its process of NPA classification to flagging of the borrower accounts as overdue as part of the day-end processes for the due date. Had the Company followed earlier method, the profit before tax for the quarter and nine months ended December 31, 2021 would have been higher by Rs. 354.75 crores.
Assets under Management:
Total Assets under Management as on 31st. December, 2021 was Rs. 124,601.77 crores as compared to Rs. 114,932.06 crores as on 31st. December, 2020.