Shriram Finance Ltd.’s (previously Shriram Transport Finance Co.), standalone net revenue for the quarter ended March rose 49% year-on-year to ₹1,946 crore.
Net curiosity earnings elevated 20% to ₹5,336 crore. Total earnings rose 22% to ₹9,498 crore.
Net curiosity margin climbed to 9.02% from 8.55%. Assets Under Management grew to ₹2,24,862 crore from ₹1,85,683 crore, the flagship firm of the Shriram Group stated in an announcement.
Gross non-performing belongings declined to 5.45% from 6.21% and net NPA to 2.70% from 3.19%. Provision protection ratio improved to 51.79% from 50.14%. Capital adequacy ratio stood at 20.30% towards 22.61%.
The board really useful a remaining dividend of ₹15 per share as well as to the 2 interim dividends, taking the whole dividend for FY24 to ₹45 per share. The remaining dividend will likely be paid by August 28.
On Friday, the board permitted acquisition of 100% of Shriram Overseas Investments Pvt. Ltd. (SOIPL) from Shriram Investment Holdings Pvt. Ltd., for a money consideration of ₹151.75 per share.
SOIPL is a non-banking monetary firm inside the promoter group. The deal is anticipated to be accomplished in six months, topic to RBI approval.
SFL board additionally permitted the useful resource mobilisation plan for FY25 for issuance of debt securities for enterprise progress and can search shareholders nod on the 45th Annual General Meeting.
