Shriram Finance Ltd Posts Remarkable 73% Profit Increase, Declares Dividend

Shriram Finance Ltd recorded a significant 73% rise in consolidated net profit to Rs 3,249 crore for the Q3 ending December 2024. This growth is supported by a boost in total income and a decline in NPAs. The company also announced an interim dividend of 125%.

Shriram Finance Ltd, the cornerstone of the Shriram Group conglomerate, announced a substantial 73% increase in consolidated net profit for the third quarter, reaching Rs 3,249 crore as of December 2024. This marks a substantial jump from Rs 1,874 crore earned during the same period last year.

The company's total income surged to Rs 10,705 crore compared to Rs 8,927 crore in the previous year's third quarter, as reported in a recent regulatory filing. In addition, Shriram Finance declared a second interim dividend of 125%, equating to Rs 2.5 per equity share for the fiscal year 2024-25, with a record payment date set for January 31.

In terms of asset quality, the gross non-performing assets dropped to 5.38% of total loans from 5.66% last year. The net non-performing assets also reduced slightly from 2.72% to 2.68%, reflecting improved financial health.

(With inputs from agencies.)