Shriram Finance Q2 PAT rises 18% YoY; declares dividend of Rs 22/ share

The NBFC's standalone net profit jumped 18.30% to Rs 2,071.26 crore on 17.89% increase in total income to Rs 10,096.68 crore in Q2 FY25 over Q2 FY24.

Profit before tax stood at Rs 2,751.53 crore in the September quarter of FY25, up 16.97% as against Rs 2,352.28 crore reported in Q2 FY24.

Net interest income grew 16.36% to Rs 5,606.7 crore in Q2 FY25 as against Rs 4,818.2 crore recorded in the same period a year ago. Net interest margin reduced to 8.74% in Q2 FY25 as compared to 8.93% registered in Q2 FY24.

As on 30 September 2024, total assets under management climbed 19.94% to Rs 2,43,042.55 crore as compared to Rs 2,02,640.96 crore as on 30 September 2023.

 

Liquidity coverage ratio was at 234.61% as on 30 September 2024 as against 291.19% as of 30 September 2023. Cost to income ratio improved to 27.95% in Q2 FY25 from 27.34% reported in Q2 FY24.

The firm's return on assets (ROA) and return on equity (ROE) stood at 3.06% and 16%, respectively in the quarter ended 30 September 2024.

On half year basis, the companys net profit gained 18.25% to Rs 4,051.85 crore on 18.83% rise in total income to Rs 19,693.75 crore in H1 FY25 over H1 FY24

Meanwhile, The company's board declared an interim dividend of Rs 22 per share for financial year 2024-25 and has set the record date on 7 November 2024. The interim dividend payout will be made to eligible shareholders by 24 November 2024.

Further, the board announced a stock split at the conclusion of its board meet on 25 October, Friday. The company will split one share with a face value of Rs 10 into 5 shares of face value of Rs 2. The record date for the said split will be intimated in due course. The corporate action will be subject to approval of the members of the company.

Shriram Finance is India's largest retail asset financing non-banking finance company (NBFC). It is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses.

Shares of Shriram Finance declined 3.81% to end at Rs 3,117.95

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