Shriram Finance Q1FY25 Quarter Results
- 29 Jul 2024
- Shriram Finance’s net income grew by 1.2% quarter-on-quarter (QoQ) during the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed an increase by 20%.
- Its expenses for the quarter were up by 1.3% QoQ and 20.5% YoY.
- Shriram Finance’s net profit was up 1.7% QoQ and 18.2% YoY.
- The earnings per share (EPS) of Shriram Finance stood at 53.7 during Q1FY25.
Shriram Finance’s financial statements for Q1FY25:
| (Rs, crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 8,008 | 9,498 | 9,610 | 1.2% | 20.0% |
Total expenses | 5,760 | 6,854 | 6,943 | 1.3% | 20.5% |
Profit before tax | 2,248 | 2,644 | 2,667 | 0.8% | 18.6% |
Tax | 572 | 698 | 686 | -1.8% | 19.9% |
Profit after tax | 1,676 | 1,949 | 1,982 | 1.7% | 18.2% |
Earnings per share | 45.3 | 53.4 | 53.7 |
Financials:
- Net Profit: Increased by 18% to ₹1,981 crores from ₹1,675 crores in the same quarter last year.
- Total Income: Rose by 20%YoY to ₹9,610 crores.
- Net Interest Income: Grew 21%YoY to ₹5,354 crores, up from ₹4,439 crores.
- Disbursements: Up by 24% year-on-year to ₹37,709 crores.
- Total AUM: ₹2,33,443.63 crores, up 20.82% YoY from ₹1,93,214.67 crores (June 30, 2023) and ₹2,24,861.98 crores (March 31, 2024).
- Basic EPS: Rs 53.70, up from Rs 45.3.
Management Commentary:
Mr. Umesh G. Revankar, Executive Vice Chairman of Shriram Finance, said,
“OEM sales in Q1FY25 have been reasonably good. Commercial vehicle sales grew at 3.5% to 224,000 units, of which the MHCV segment grew by 9.7% to 85,421 units."
He added that ₹11 trillion of capex announced in the Budget, infrastructure development for eastern parts, additional financial support for development of capital for Andhra Pradesh and interest-free loans to states will augur well for the transportation, manufacturing and MSME businesses.
YS Chakravarti, managing director and CEO, said,
“The cost of funds remains stable at the current level of 8%. The company has a well-diversified range of borrowing sources. It plans to keep utilising retail deposits and securitisation, which is one of the most cost-effective sources. Additionally, the company has a significant offshore borrowing program, which it will continue to use as opportunities arise.”
Data Source: BSE, Company announcements
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