Shriram Finance’s board of directors on Friday approved the sub-division of 1 equity share into 5 fully paid equity shares and will set the record date for the purpose of split after obtaining shareholders’ approval.
The announcement was made after market hours along with the company’s September quarter earnings where the NBFC reported a profit after tax (PAT) growth of 18.3% at Rs 2,071.26 crore as against Rs 1,750.84 crore recorded in the same period of the previous year.
The net interest income (NII) for the second quarter ended increased by 16.37% and stood at Rs 5,606.74 crores as against Rs 4,818.18 crore in the same period of the previous year.
The company’s board declared an interim dividend of Rs 22 per share and has set the record date on November 7, 2024.Ahmedabad Investment
Total assets under management (AUM) as of September 30, 2024, increased by 20% and stood at Rs 2,43,042 crore as compared to Rs 2,02,641 crore as of September 30, 2023, and Rs 2,33,444 crore as of June 30, 2024.Udabur Stock
Consolidated profit after tax increased by 20.17% and stood at Rs 2,153.27 crores as against Rs 1,791.83 crore recorded in the same period of the previous year. Consolidated EPS (basic) increased 19.58% and stood at Rs. 56.93 as compared to RsJaipur Wealth Management. 47.61 recorded in the same period of the previous year.
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 with Mango Crest Investment Ltd, an affiliate of Warburg Pincus.
The company’s operating profit in the reporting quarter stood at Rs 3,986.52 crore versus Rs 3,854.14 crore in Q1FY25 and Rs 3,481 crore in Q2FY24, recording a 3.43% YoY and 14.53% QoQ growth.Bangalore Wealth Management
The loan losses and provisions in Q2FY25 stood at Rs 1,234.99 crore versus Rs 1,187.55 crore in Q1FY25 and Rs 1,128.55 crore in Q2FY25. It was a 9.43% YoY and 3.99% QoQ growth.Ahmedabad Wealth Management
Jaipur Investment
