Shriram Transport Finance Q4 net down 18 per cent at Rs 315 crore

Shriram Transport Finance Company reported a 17.9 per cent decline in consolidated net profit at Rs 314.89 crore for the fourth quarter that ended on March 31, 2014.

It had reported a net profit of Rs 383.46 crore for the corresponding quarter a year ago.

"The net interest income for the fourth quarter ended March 31, 2014 stands at Rs 967.71 crore as against Rs 951.18 crore in the same period of the previous year," the company said in a release.

For the entire fiscal year 2013-14, net interest income rose to Rs 3,901.9 crore from Rs 3,652.62 crore the previous year.

FY14 net profit stood at Rs 1,357.94 crore, as against Rs 1,463.42 crore in 2012-13, it said.

On standalone basis, net interest income in the fourth quarter increased to Rs 912.43 crore against Rs 892.96 crore a year ago. Standalone profit after tax (PAT) was at Rs 294.96 crore, down from Rs 355.22 crore a year ago.

Shriram Transport Finance is a non-banking finance company (NBFC) that finances pre-owned trucks and commercial vehicles.

Shares in Shriram Transport Finance, on Tuesday, ended at Rs 747.20 on the BSE, down 3.86 per cent from the previous close.