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Shriram Trans Fin: Healthy growth on HCV pick-up - Views on News from Equitymaster
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Shriram Trans Fin: Healthy growth on HCV pick-up
Dec 1, 2015

Shriram Transport Finance (STFC) declared its results for the second quarter of the financial year (2QFY16). The institution grew its net interest income by 19.8% YoY and the profits increased by 11.9% YoY in 2QFY15. For 1HFY16, the consolidated profits for the company increased by 8.3% YoY. Here is the detailed analysis of the results.

Performance summary

  • Income from operations grew by 14.9% YoY in 2QFY16 on the back of 13.9% YoY growth in Assets under Management (AUM) during the quarter. For 1HFY16, the top-line moved up by 15.8% YoY. However, net income from securitization fell steeply by 27% and 35%, respectively in 2QFY16 and 1HFY16.
  • Net interest margins (NIM) expanded by 0.4% to 7% in 2QFY16. In 1HFY15, NIM moved up to 6.9% from 6.6% in the year-ago quarter.
  • Other income increased by 28.5% YoY in 2QFY16 and by 25% in 1HFY16.
  • Higher provisioning and operating expenses led to a subdued 11.9% increase in net profit for 2QFY16. For 1HFY16, the net profit was up by a relatively muted 8.3% YoY.
  • Gross NPAs inched upwards to 4.18% from 3.74% in the year-ago period, while the net NPA ratio increased to 0.93% in 2QFY16 from 0.8% in 2QFY15.
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