Shriram Transport Finance Company (STFC) has consistently been showing improvement on major operating front led by higher disbursement and higher operating profit. Its disbursement grew by 64.7% YoY and 8.1% QoQ to Rs133.8bn owing to strong growth in new CV financing and healthy growth in used CV segment. Consequently, AUM improved by 18% YoY and 5.3% QoQ to Rs900bn. Reported NIM on AUM remained almost stable at 7.5% QoQ (+31bps YoY) led by decline in cost of fund. As a result, STFC's operating profit grew by 18.3% YoY and 2.5% QoQ to Rs13.5bn. Further, asset quality remained stable at 120 days recognition, as gross and net NPA ratio stood at 7.98% and 2.45% in 3QFY18 vs. 8.06% and 2.5%, respectively in 2QFY18....