Shriram Transport Finance Company Limited – Q4FY22 results
Thursday 29th April, 2022, Mumbai : The Board Meeting of Shriram Transport Finance Company Limited (STFC), was held today to consider the audited financial results for the Fourth quarter ended 31st March, 2022.
Financials (Standalone) : Fourth quarter ended 31st March, 2022 : The Net Interest Income for the fourth quarter ended 31st March, 2022 increased by 22.16% to Rs. 2,627.82 crores as against Rs. 2,151.12 crores in the same period of the previous year.
The profit after tax increased by 43.87% to Rs. 1,086.13 crores as against Rs. 754.93 crores recorded in the same period of the previous year. The earning per share (basic) for the fourth quarter ended 31st March, 2022 increased by 31.00% and stood at Rs. 40.15 as against Rs. 30.65 recorded in the same period of the previous year.
Year ended 31st March, 2022 : The Net Interest Income for the year ended 31st March, 2022 increased by 14.07% to Rs. 9,316.06 crores as against Rs. 8,167.10 crores recorded in the previous year. The profit after tax increased by 8.87% to Rs. 2,707.93 crores as against Rs. 2,487.26 crores recorded in the previous year.
The earning per share (basic) for the year ended 31st March, 2022 increased by 0.76% and stood at Rs. 101.74 as against Rs. 100.97 recorded in the previous year. NPA CLASSIFICATION 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 the earlier method, the profit before tax for the year ended on March 31, 2022 would have been higher by Rs. 407.65 crores. Assets under Management : Total Assets under Management as on 31st March, 2022 was Rs. 127,040.86 crores as compared to Rs. 117,242.83 crores as on 31st March, 2021.
