 "Shriram Finance Q3 results: Net profit up 73% at Rs 3,248.64 crore")
Shriram Finance, the largest retail non-banking financial company (NBFC) in India, on Friday reported a consolidated net profit of Rs 3,248.64 crore during the third quarter of the financial year 2025 (Q3FY25), a jump of 73 per cent from Rs 1,873.59 crore during the same period in FY24.
The NBFC’s total income during the period under review soared 20 per cent to Rs 10,705.47 crore versus Rs 8,927.3 crore during the same quarter in FY24. The profit after tax includes a one-time gain of Rs 1,554 crore due to the sale of Shriram Housing Finance, now renamed as Truhome Finance.
By the end of December 31 last year, the company’s total assets under management (AUM) increased by 19 per cent and stood at Rs 2,54,469.69 crore as compared to Rs 2,14,233.47 crore as on December 2023 and Rs 2,43,042.55 crores as on September, 2024. Also Read: IndiGo Q3 results: Net profit drops 18.6%
The gross non-performing asset (NPA) for the quarter reduced to 5.38 per cent, against 5.66 per cent in Q3 last year, while it was down at 5.32 per cent in Q2FY25.
Its net NPA stood at 2.68 per cent compared to 2.64 per cent in the July to September quarter and 2.72 per cent during the October to December period of FY24. The company’s asset quality worsened in various segments, including commercial vehicles, construction equipment, gold loans, and personal loans.
The company board declared an interim dividend of (125 per cent) Rs 2.50 per share, the record date for the entitlement thereof has been fixed as January 31, 2025. Shriram Finance Limited is the flagship company of the Shriram group which has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.