Shriram Transport Finance announced a phenomenal rise in standalone net profit for the quarter ended March 2008. During the quarter, the profit of the company zoomed 2.31 times to Rs 1,118.50 million from Rs 483.60 million in the same quarter previous year.
Net sales for the quarter surged 77.60% to Rs 7,497.30 million, while total income for the quarter jumped 78.98% to Rs 7,645.10 million, when compared with the prior year period. It reported earnings of Rs 5.51 a share during the quarter, registering 99.64% growth over prior year period.
The board of directors has recommended a final dividend of 40% or Rs 4 a share for the year ended March 31, 2008. This is in addition to the interim dividend of 10% or Re 1 a share already paid.
Shares of the company gained Rs 5.55, or 1.66%, to settle at Rs 338.9. The total volume of shares traded was 10,876 at the BSE.