Non-banking finance firm Shriram Transport Finance is a 10-12 per cent progress in its asset below administration (AUM) throughout fiscal 2021-22, its managing director and CEO Umesh Revankar stated.
The asset financing NBFC registered a 6.83 per cent progress in its AUM to Rs 117,242.83 crore as of March 31, 2021, in comparison with Rs 109,749.24 crore as of March 2020.
“We’ve got saved a goal of 10-12 per cent progress in our AUM in FY22. We really feel that there’s sufficient pent-up demand. Despite the fact that the demand is briefly getting postponed due to the surge in COVID-19 circumstances, it is going to come again by June, Revankar stated.
The non-bank lender’s collections improved to 103 per cent within the fourth quarter of FY21 from 97 per cent in December 2020.
Revankar stated disruptions induced because of the restriction in actions imposed by a number of states to stem a surge in COVID-19 circumstances could have a short-term influence on collections however will normalise by June.
Collections could also be briefly down in Could and April however by June issues ought to turn into regular. There aren’t any restrictions on transportations of products and agriculture actions and so, I do not see any problem so far as enterprise is worried, he stated.
Within the quarter ended March 31, 2021, the lender’s revenue after tax stood at Rs 754.93 crore as towards Rs 223.38 crore within the year-ago quarter.
For fiscal 2020-21, PAT stood at Rs 2,487.26 crore as towards Rs 2,501.84 crore in FY2019-2020.
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