Shriram Transport’s profits decline

Mumbai, January 25: Commercial vehicle fincier Shriram Transport Fince Co. Ltd. on Saturday said its consolidated net profit declined margilly by 1.10 percent registering at Rs.321.27 crore in the third quarter of the present fiscal. Last fiscal, it had reported a profit after a tax figure of Rs.324.85 for the same time period. The company’s consolidated net interest income stood at Rs.1,106 crore as against Rs.1,010 crore in the year–ago period, while total assets till the end of December was Rs.60,329 crore compared to Rs.56,883 crore in the previous fiscal. Standalone profits, however increased by 3.5 percent to Rs.312 crore against Rs.301 crore in the last fiscal. The net standalone interest income was Rs.1,052 crore in the period as against Rs.936 crore in the same period in the previous year. Shriram Transport Fince is the flagship company of the Shriram group which has presence in consumer fince, life insurance, general insurance, stock broking and distribution businesses. (IANS)