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 first quarter ended 30th June, 2024.
Financials (Standalone) :
First quarter ended 30th June, 2024 :
The Net Interest Income for the first quarter ended 30th June, 2024 increased by 20.63% and stood at Rs. 5,354.47 crores as against Rs. 4,438.68 crores in the same period of the previous year. The profit after tax increased by 18.21% and stands at Rs. 1,980.59 crores as against Rs. 1,675.44 crores recorded in the same period of the previous year. The earning per share (basic) increased by 17.82% and stands at Rs. 52.70 as against Rs. 44.73 recorded in the same period of the previous year.
Assets under Management :
Total Assets under Management as on 30th June, 2024 increased by 20.82% and stood at Rs. 233,443.63 crores as compared to Rs. 193,214.67 crores as on 30th June, 2023 and Rs. 224,861.98 crores as on 31st March, 2024.
Financials (Consolidated) :
First quarter ended 30th June, 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 Assets Held for sale and disclosed as discontinued operations in the financial results.
Consolidated profit after tax increased by 18.60% and stands at Rs. 2,030.64 crores as against Rs. 1,712.19 crores recorded in the same period of the previous year. Consolidated EPS (basic) increased by 18.21% and stands at Rs. 53.82 as compared to Rs. 45.53 recorded in the same period of the previous year .