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Shriram Transport Finance Q4 profit falls 70% at Rs223.38 crore

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MUMBAI : Shriram Transport Finance Co Ltd (STFC) on Wednesday reported a standalone net profit of ₹223.38 crore, down 70% from the same period last year owing to provisions of ₹909.64 crore set aside for covid-19.The lender said in a regulatory filing that it has used relevant indicators of moratorium, considering various measures taken by government and other authorities along with an estimation of potential stress on probability of defaults and loss given defaults due to the covid-19 situation.Based on such assessment, it has made additional expected credit loss provision of ₹909.64 crore.

However, it said that while the impairment loss provided for on account of the pandemic is based on the assessment of current situation, the actual.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
Thousands in Scotland living with undiagnosed disease as sufferers warn of symptoms
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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