Shriram Finance Q4 results: net profit jumps 49% to Rs 1,945.87 crore; Here are all other details 

Shriram Finance’s net profit in Q4 of FY24 rose 49% to Rs 1,945.87 crore Vs Rs 1,308.31 crore it posted in the same quarter a year ago. The company’s total revenue from operations stood at Rs 9,483.71 crore in Q4 of FY24, against Rs 7,756.33 crore it recorded in Q4 of FY24.

The net interest income for the fourth quarter of FY24 increased by 20.02% and stood at Rs 5,336.06 crores as against Rs 4,445.89 crores in the same period of the previous year.

The company’s total assets under management as of  March 31 increased by 21.10% and stood at Rs. 224,861.98 crores as compared to Rs. 185,682.86 crores it reported in the same period a year ago. Sequentially, the company’s AUM rose 5% against the Rs 214,233.47 crores it reported in the quarter ending December 2023.

Shriram Finance has recommended a final dividend of Rs 15 per equity share of the face value of Rs 10 each fully paid-up (i.e. 150%) for the financial year ended March 31, 2024, subject to the approval of Members at the ensuing 45th AGM.

“This is in addition to the two Interim Dividends for the financial year 2023-24 declared by the Company – the first Interim Dividend of Rs.20/- per equity share of Rs.10/- each fully paid-up (200%) declared on October 26, 2023 and the second Interim Dividend of Rs.10/- per equity share of Rs.10/- each fully paid-up (100%) declared on January 25, 2024. With this the total dividend for the financial year 2023-24 will be Rs.45/- per share (i.e.450%),” said the company in an exchange filing.

“On January 22, 2024, Shriram Finance issued and allotted USD 750,000,000 6.625% senior secured notes due 2027 in the offshore market (Social Bonds) for a sum of Rs.62,31,94,35,937.50 under USD 3.5 Billion Global Medium Term Note Programme. The said Social Bonds were listed on the Global Securities Market – India International Exchange (INX) on January 24, 2024. The proceeds of the issue of the Social Bonds are being utilised as per the Company’s Social Finance Framework and as may be permitted by the RBI ECB Guidelines for onward lending and other activities,” said the company in an exchange filing.