Shriram Finance Q4 results: Net profit rises 49%, net interest income 20% up

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shriram Finance, a non-banking financial company (NBFC), has announced its fourth-quarter earnings for the financial year. The company reported a net profit of ₹1,946 crore, surpassing the CNBC-TV18 poll projection of ₹1,925.8 crore.

This was 48.73% high year-on-year (YoY) as against ₹1,308 crore recorded in the same period of the previous year.

Additionally, Shriram Finance revealed a Net Interest Income (NII) of ₹5,336.1 crore, outperforming the CNBC-TV18 poll estimate of ₹5,135.3 crore.

#4QWithCNBCTV18 | Shriram Finance reports #Q4 earnings

Net profit at ₹1,946 cr vs CNBC-TV18 poll of ₹1,925.8 cr pic.twitter.com/SB6Pkxx4WR

— CNBC-TV18 (@CNBCTV18Live) April 26, 2024

The NII for the fourth quarter, ending on March 31, 2024, increased by 20.02% compared to the same period in the previous year.

The company’s earnings per share (basic) rose by 48.23%, reaching ₹51.79 against ₹34.94 recorded in the corresponding period of the previous year.

For the financial year ending on March 31, 2024, Shriram Finance’s net interest income increased by 16.06% to ₹19,686.85 crore, the company said in its regulatory filing

Furthermore, the company’s total assets under management as on March 31, 2024 increased by 21.10% to reach ₹2,24,861.98 crore.

Meanwhile, the Board of Directors has recommended a final dividend of ₹15 per equity share for the financial year 2023-24, subject to approval by members in the upcoming 45th Annual General Meeting of the Company.

This dividend represents 150% of the nominal face value of ₹10 per share, the NBFC said.

Shares of the NBFC were trading 1% higher at ₹2,515 on the BSE on Friday.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow