Shriram Finance Ltd.

Shriram Transport Finance Company has opened Shriram Automall in the vicinity of Bheemunipatnam in Visakhapatnam district on June 16, 2012. In the current financial year, the company plans to disburse Rs 21,000 crore towards vehicle finance against Rs 19,000 crore in 2011-12.

The company also finances second-hand commercial vehicles in the country. In 2011-12, the company had financed 6 lakh vehicles old and new and in the current financial year, the number may rise to 6.5 lakh.

The company has posted a fall of 9.56% in its net profit at Rs 308.07 crore for the quarter ended March 31, 2012 as compared to Rs 340.62 crore for the same quarter in the previous year. However, total income has increased by 7.36% at Rs 1485.46 crore for quarter under review as compared Rs 1383.51 crore for the quarter ended March 31, 2011.