Shriram Finance Ltd Reports 20% Profit Surge in Q2

Shriram Finance Ltd achieved a 20% increase in consolidated net profit for the second quarter of the current fiscal year, totaling Rs 2,153 crore. Total income rose significantly, while expenses also saw an increase. The company's asset quality improved, leading to a lower NPA ratio. The board announced an interim dividend and a share split.

Shriram Finance Ltd, the leading entity of the Shriram Group, announced a significant 20% boost in consolidated net profit for Q2 of the current fiscal year, totaling Rs 2,153 crore.

The company's total income grew to Rs 10,097 crore, a notable rise from Rs 8,564 crore in the previous year's same period. Shriram Finance also managed to reduce its gross Non-Performing Assets (NPAs) to 5.32%.

In addition, the company declared an interim dividend of Rs 22 per share and approved a 1:5 share split, pending shareholder approval.

(With inputs from agencies.)