Friday, 28th October, 2024, Mumbai : The Board Meeting of Shriram Finance Limited (SFL) (Formerly known
as Shriram Transport Finance Company Limited (STFC)) was held today to consider the unaudited financial results for the second quarter ended 30th September, 2024.
Financials (Standalone) :
Second quarter ended 30th September, 2024 :
The Net Interest Income for the second quarter ended 30th September, 2024 increased by 16.37% and stood at Rs. 5,606.74 crores as against Rs. 4,818.18 crores in the same period of the previous year. The profit after tax increased by 18.30% and stands at Rs. 2,071.26 crores as against Rs. 1,750.84 crores recorded in the same period of the previous year. The earning per share (basic) increased by 18.04% and stands at Rs. 55.09 as against Rs. 46.67 recorded in the same period of the previous year.
Interim Dividend :-
The Board declared an Interim Dividend of (220%) Rs. 22/- per share, the Record Date for the entitlement thereof has been fixed as November 07, 2024.
Assets under Management :
Total Assets under Management as on 30th September, 2024 increased by 19.94% and stood at Rs. 243,042.55 crores as compared to Rs. 202,640.96 crores as on 30th September, 2023 and Rs. 233,443.63 crores as on 30th June, 2024.
Financials (Consolidated) :
Second quarter ended 30th September, 2024 :
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).The Company’s investment in Shriram Housing Finance Limited has been classified as Non-current Assets held for sale and disclosed as Discontinued Operations in the financial results.
Consolidated profit after tax increased by 20.17% and stands at Rs. 2,153.27 crores as against Rs. 1,791.83 crores recorded in the same period of the previous year. Consolidated EPS (basic) increased by 19.58% and stands at Rs. 56.93 as compared to Rs. 47.61 recorded in the same period of the previous year .
