Shriram Finance Q4 Earnings: 20% Rise In Net Interest Income, Shares Recover

Shriram Finance announced its fourth-quarter scorecard on Friday, which showed a standalone net profit of ₹2,021 crore, up 49% year-on-year from ₹1,308.31 crore in the same quarter last year.

The company’s overall operating revenue for the aforementioned quarter increased 32% to ₹1,945.87 crore from ₹1,308.31 crore in Q4.

The company reported in a BSE filing that its net interest income (NII) for the March quarter of FY24 was ₹5,336.06 crore, growing 20% from ₹4,445.89 crore in the same quarter of FY23.

The company’s board also recommended a dividend of ₹15 per share.

See also: Vedanta Shares Up 4% After Q4 Results: Why Analysts Remain Cautious

As of March 31, 2024, the company’s total assets under management (AUM) increased 21.1% to ₹2.24 lakh crore from ₹1.85 lakh crore as of March 31, 2023. Earnings per share (basic) were ₹51.79, up from the ₹34.94 reported in the same quarter last year.

Price Action: Shares of Shriram Finance gained 0.31% to ₹2,501.15 on Friday afternoon shortly after the company announced its quarterly earnings, recouping steep losses earlier in the session. The scrip has been an outperformer, up 78% in the past year in comparison with a 24% gain in the Sensex.

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Posted In: EarningsNewsShriram Finance