Mumbai, May 4 (PTI) Stocks of commercial vehicle financier Shriram Transport Finance today slumped 15 per cent after the company reported a 73 per cent drop in consolidated profit after tax for the quarter ended March.
The stock plunged 14.95 per cent to Rs 827.90 on the BSE. On NSE, it dipped 14.77 per cent to Rs 826.55.
Shriram Transport Finance on Thursday reported a 73 per cent drop in consolidated profit after tax at Rs 84.23 crore for the quarter ended March.
The consolidated profit after tax stood at Rs 314.89 crore in the same period last year.
For the full year, consolidated net profit declined 24 per cent to Rs 1,028.44 crore against Rs 1,357.94 crore in the previous year, according to a company release.
Net interest income in the March quarter stood at Rs 1,105.57 crore against Rs 975.95 crore in the year-ago period. Stock markets were closed on Friday on account of Maharashtra Day.
In contrast, the broader market was trading strong with the benchmark BSE Sensex trading 324.76 points higher at 27,356.81.