Shriram Finance on Friday reported an 96.3% year-on-year rise in its net profit for the fiscal’s third quarter ended December (Q3FY25) to ₹3,569.76 crore. The company had reported a profit of ₹1,818.33 crore in the year-ago period. Sequentially, the net profit was up 72.3%.
The profit after tax was significantly boosted by a one-time post-tax gain of ₹1,489 crore resulting from the sale of a stake in the housing finance subsidiary. This subsidiary, formerly known as Shriram Housing Finance Ltd, has now been rebranded as Truhome Finance Ltd. Shriram Finance shares traded 0.51% lower at ₹527.45 apiece on BSE post the Q3 results, the stock ended 1.13% lower at ₹524.15 per share.
Shriram Finance’s net interest income for the third quarter ended December 31, (Q3FY25) rose by 14.31%, reaching ₹5,822.69 crores compared to ₹5,093.93 crores during the same period last year.
The board has announced an interim dividend of 125%, amounting to ₹2.50 per share. The record date for shareholders to be eligible for this dividend is set for January 31, 2025.
The earnings per share (basic) witnessed a significant increase of 16.62%, reaching ₹32.62 compared to ₹27.97 in the corresponding period last year. This increase is noted after excluding the impact of the sale of the company’s stake in Shriram Housing Finance, as stated in their recent exchange filing.
According to the exchange filing, total assets under management as of December 31, 2024, saw an impressive increase of 18.78%, reaching Rs. 2,54,469.69 crores. This is a significant rise compared to Rs. 2,14,233.47 crores recorded on December 31, 2023, and also up from Rs. 2,43,042.55 crores as of September 30, 2024.
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