Finance company Shriram Finance announced Q1FY25 results: Consolidated: Consolidated profit after tax increased by 18.60% and stands at Rs 2,030.64 crore as against Rs 1,712.19 crore recorded in the same period of the previous year. Consolidated EPS (basic) increased by 18.21% and stands at Rs 53.82 as compared to Rs 45.53 recorded in the same period of the previous year. The Board of Directors of the Company in its meeting held on May 13, 2024 had approved the proposal for disinvestment of the Company’s entire stake in Shriram Housing Finance Limited, a debt-listed non-material subsidiary of the Company and in this regard, the Company has entered into the share purchase agreement, inter-alia, with Mango Crest Investment Ltd (an affiliate of Warburg Pincus). Standalone: The Net Interest Income for the first quarter ended 30th June, 2024 increased by 20.63% and stood at Rs 5,354.47 crore as against Rs 4,438.68 crore in the same period of the previous year. The profit after tax increased by 18.21% and stands at Rs 1,980.59 crore as against Rs 1,675.44 crore recorded in the same period of the previous year. The earning per share (basic) increased by 17.82% and stands at Rs 52.70 as against Rs 44.73 recorded in the same period of the previous year. Result PDF
Non-banking financial company Shriram Finance announced Q4FY24 & FY24 results: Consolidated Q4FY24: Net Interest Income increased by 22.27% to Rs 5,543.47 crore compared to Rs 4,533.63 crore in Q4FY23. Net Profit surged by 56.91% to Rs 2,021.28 crore from Rs 1,288.18 crore recorded in Q4FY23. Earnings per Share (basic) rose by 57.22% to Rs 53.47 compared to Rs 34.01 recorded in Q4FY23. Total Assets under Management as of March 31, 2024, increased by 21.10% and stood at Rs 2,24,861.98 crore as compared to Rs 1,85,682.86 crore as of March 31, 2023, and Rs 2,14,233.47 crore as of December 31, 2023. Standalone Q4FY24: Net Interest Income increased by 20.02% to Rs 5,336.06 crore compared to Rs 4,445.89 crore in Q4FY23. Profit after tax rose by 48.73% to Rs 1,945.87 crore from Rs 1,308.31 crore in Q4FY23. Earnings per share (basic) surged by 48.23% to Rs 51.79 compared to Rs 34.94 in Q4FY23. Consolidated FY24: Net Interest Income increased by 17.92% to Rs 20,367.67 crore from Rs 17,272.51 crore for FY23. Profit after tax grew by 22.90% to Rs 7,398.89 crore from Rs 6,020.03 crore recorded in FY23. Earnings per Share (basic) for the year ended March 31, 2024, increased by 22.29% to Rs 196.32 compared to Rs 160.54 recorded in FY23. The Board of Directors has recommended a final dividend of Rs 15/- per equity share of the nominal face value of Rs 10/- each fully paid up i.e. 150%, for FY24 Standalone FY24: Net Interest Income increased by 16.06% to Rs 19,686.85 crore from Rs 16,963.07 crore for FY23. Profit after tax grew by 20.26% to Rs 7,190.48 crore from Rs 5,979.34 crore recorded in FY23. Earnings per share (basic) increased by 20.00% to Rs 191.63 from Rs 159.69 recorded in FY23. Result PDF
Conference Call with Shriram Finance Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.