Shriram Transport Finance Co. Ltd. (STFC) has reported a 38% growth in standalone net profit for the second quarter ended September to ₹1,067 crore from the year-earlier period.
Revenue from operations grew 14% to ₹5,348 crore and net interest income increased by 22.85% to ₹2,694 crore, the NBFC said in a regulatory filing.
Total assets under Management rose to ₹1,35,249 crore from ₹1,21,647 crore.
During the quarter, STFC had written off ₹95 crore of loans utilising the ECL provision created as management overlay on account of COVID-19. The ECL provision of ₹1,741 crore was retained by STFC as of September 22 towards management overlay on account of COVID-19 write-off.
