Non-banking finance company (NBFC) major Shriram Finance on Friday reported a 96 per cent year-on-year (y-o-y) in net profit for the quarter ended December at ₹3,570 crore, largely led by one-time gain of ₹1,489 crore from sale of the NBFC’s entire stake in Shriram Housing Finance.

Excluding the one-time gain of ₹1,489 crore, the profit after tax increased by 14 per cent to ₹2,080 crore.The net interest income for the third quarter increased by 14 per cent y-o-y to ₹5,823 crore. Net interest margin (NIM), meanwhile, moderated slightly to 8.48 per cent in the reporting quarter from 8.74 per cent in Q2.

Total assets under management (AUM) of the NBFC grew 19 per cent y-o-y to ₹2.54 lakh crore.Commercial vehicle loans accounted for 45 per cent of the overall AUM, while passenger vehicle accounted for 20 per cent and MSME loans accounted for 14 per cent of overall AUM.

Asset quality deteriorated slightly, with gross stage-3 asset ratio (GS-3) rising to 5.38 per cent in Q3 from 5.32 per cent in last quarter. Net stage 3 ratio, too, rose by 4 basis points (bps) sequentially to 2.68 per cent.Gross stage-2 ratio, which reflect loans overdue for 61-90 days, rose to 6.71 per cent in Q3 from 6.60 per cent last quarter.