Shriram Finance soars as Q1 PAT rises 18% YoY

Shriram Finance surged 9.14% to Rs 2,925.30 after the NBFC's standalone net profit jumped 18.21% to Rs 1,980.59 crore on 20% increase in total income to Rs 9,609.71 crore in Q1 FY25 over Q1 FY24.

Profit before tax stood at Rs 2,666.59 crore in the June quarter, up 18.64% as against to Rs 2,247.62 crore reported in Q1 FY24.

Net interest income grew 20.63% to Rs 5,354.47 crore in Q1 FY25 as against Rs 4,438.68 crore recorded in the same period a year ago. Net interest margin improved to 8.79% in Q1 FY25 as compared to 8.33% registered in Q1 FY24.

 

As on 30 June 2024, total assets under management climbed 20.82% to Rs 2,33,443.63 crore as compared to Rs 1,93,214.67 crore as on 30 June 2023.

Liquidity coverage ratio was at 225.19% as on 30 June 2024 as against 202.84% as of 30 June 2023. Cost to income ratio reduced to 27.45% in Q1 FY25 from 28.85% reported in Q1 FY24.

The firm's return on assets (ROA) and return on equity (ROE) stood at 3.12% and 16.03%, respectively in the quarter ended 30 June 2024.

Meanwhile, The NBFC announced that its board will consider raising of funds by issuing redeemable non-convertible debt securities including bonds in onshore/offshore market on private placement basis, subject to market conditions.

In this regard, the meeting of the company's banking and finance committee and allotment committee will be held to consider and approve the issuance and allotment of redeemable non-convertible debt securities / bonds during the period from 1 August 2024 to 31 October 2024.

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.

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