The company’s net profit grew by 60% from last year to ₹3,447 crore. A CNBC-TV18 poll was working with a figure of ₹3,065 crore.
Net Interest Income (NII) or core income earned by Shriram Finance saw a growth of 33.6% from last year to ₹7,712 crore. Core income in the base quarter stood at ₹5,773 crore. The figure is also higher than the CNBC-TV18 poll estimate of ₹7,375 crore.
Gross NPA or Gross Stage 3 assets saw marginal deterioration during the quarter, coming in at 4.64% compared to 4.58% during the March quarter. Net NPA figure remained unchanged at 2.33% on a sequential basis.
Assets Under Management (AUM) at the end of the June quarter stood at ₹3.13 lakh crore, compared to ₹2.7 lakh crore in June last year, indicating a growth rate of 15.3%.
Loan losses and provisions during the quarter stood at ₹1,463 crore, compared to ₹1,409 crore in March.
Shriram Finance’s Return on Assets (RoA) stood at 3.93% from 2.76% last year, while Return on Equity narrowed both year-on-year and on a sequential basis to 12.76% from 18.73% last quarter and 14.69% in the base quarter.
Shares of Shriram Finance, after making an intraday high of ₹1,051 after the results announcement, gave up all of those gains, currently trading 0.3% higher at ₹1,029.7. The stock has been flat on a year-to-date basis.
