Shriram Transport Finance Corporation’s reported a 6.4% YoY decline in its net profit for the quarter ending December 2021 at Rs 680.62 crore against Rs 727.72 crore for the previous corresponding quarter.
The company reported a net interest income of Rs 2,387.97 for Q3 FY’22 crore against Rs 2,148.22 crore for Q3 FY’21, showing growth of 11.16% YoY.
The company’s financial performance did not fulfill investors’ expectations, leaving them disappointed. As a result, its trading remained volatile so far in the day.
Shriram Transport is a commercial banking company dealing with deposits, commercial vehicle loans, working capital loans, life insurance and business loans.
The stock erased all early morning gains so far in today’s trade after touching an intraday high of Rs 1,202.80. It is currently trading at Rs 1,138.15, against its previous closing price of Rs 1,154.60, down by Rs 14.60 or 1.35%.
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