The non-banking finance firm had posted a internet revenue of Rs 765.05 crore in the identical quarter of 2019-20.
Complete earnings rose 4.68 per cent to Rs 4,351.26 crore throughout the quarter below overview from Rs 4,156.92 crore in the identical interval a yr in the past, STFC stated in a regulatory submitting.
Nonetheless, internet curiosity earnings fell 1.67 per cent to Rs 2,021.86 crore from Rs 2,056.11 crore within the year-ago quarter.
The corporate”s belongings below administration (AUM) stood at Rs 1,13,345.93 crore on the finish of September 2020, up 4.83 per cent from Rs 1,08,120.24 crore a yr in the past.
STFC stated the extended lockdown resulting from COVID-19 pandemic has affected its enterprise operations and it has thought of a further anticipated credit score loss (ECL) provision on loans of Rs 416.65 crore and Rs 1,372.80 crore on account of pandemic throughout the quarter and half yr ended September 30, 2020, respectively.
“As at September 30, 2020, extra ECL provision on mortgage belongings as administration overlay on account of COVID-19 stood at Rs 2,282.44 crore,” it stated.
The non-banking lender added that the precise impression on ECL provisions might range resulting from prevailing uncertainty brought on by the pandemic.
The corporate”s administration is constantly monitoring the state of affairs and the financial components affecting the operations of the corporate, it added.
STFC stated its board of administrators have declared an interim dividend of Rs 6 (60 per cent) per share and the file date for entitlement has been fastened as November 10, 2020.
The corporate is especially engaged within the enterprise of finance for business car business.
Shares of the corporate on Thursday closed 1.84 per cent decrease at Rs 698.75 apiece on the BSE. PTI KPM RVK
Disclaimer :- This story has not been edited by Outlook workers and is auto-generated from information company feeds. Supply: PTI