Shriram Finance Q2 Results: Net Profit Rises 18.30% To Rs. 2,071.26 Cr; Rs.22 Dividend Declared

Today, Shriram Finance released its financial results for the second quarter and a half of 2024, which ended on September 30, 2024. Compared to Rs. 1,750.84 crores during the same time last year, the standalone profit after tax climbed by 18.30% to Rs. 2,071.26 crores in the quarter under review. Compared to Rs. 46.67 during the same time last year, the basic standalone earnings per share (EPS) improved by 18.04% to Rs. 55.09 in Q2FY25. The standalone net interest income for the second quarter of 2024, which ended on September 30th, was Rs. 5,606.74 crores, up 16.37% from Rs. 4,818.18 crores during the same time the year before.

As of September 30, 2024, the total assets under management was at Rs. 243,042.55 crores, up 19.94% from Rs. 202,640.96 crores on September 30, 2023, and Rs. 233,443.63 crores on June 30, 2024. Compared to Rs. 1,791.83 crores during the same period last year, the consolidated profit after tax climbed by 20.17% to Rs. 2,153.27 crores. Compared to Rs. 47.61 during the same time last year, the consolidated EPS (basic) climbed by 19.58% to Rs. 56.93.

The Board of Directors "Declared an interim dividend of 220% i.e. Rs.22/- per equity share of face value Rs.10/- each fully paid up for the Financial Year 2024-25, subject to deduction of tax at source, if any, to be paid to those members whose name appears in the Register of Members of the Company as on Thursday, November 7, 2024 being the Record Date, for the purpose of payment of interim dividend. The interim dividend payout will be made to eligible shareholders on or before Sunday, November 24, 2024," said Shriram Finance in a stock exchange filing.

The Board of Directors also "Approved the sub-division/ split of 1 (One) fully paid equity share of face value of Rs.10/- (Rupees Ten Only) each held by Members of the Company into 5 (Five) fully paid equity shares of face value of Rs.2 (Rupees Two Only) each, subject to approval of Members of the Company through Postal Ballot. The record date for the purpose of the sub-division/ split of equity shares shall be decided after obtaining approval of Members of the Company and the same will be intimated in due course," informed Shriram Finance to stock exchanges.

The primary operation of the Shriram group, which is well-known in the consumer finance, stock broking, distribution, life and general insurance, and housing finance sectors, is Shriram Finance Limited. With assets under management (AUM) over Rs. 2.43 trillion, Shriram Finance Limited is among the largest retail asset financing Non-Banking Finance Companies (NBFC) in India.