March 4, 2024

Shriram Finance’s curiosity revenue within the reporting quarter stood at Rs 8,617.88 crore, as towards Rs 8,617.88 crore in a 12 months in the past interval

Non-bank lender Shriram Finance on January 25 reported a 2.32 % rise in its standalone web revenue to Rs 1,818.33 crore within the October-December quarter of the monetary 12 months 2023-24.

On a sequential foundation, web revenue of the corporate rose 3.9 %. This was on again improve in property below administration and web curiosity revenue.

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Curiosity revenue

Curiosity revenue of Shriram Finance within the reporting quarter stood at Rs 8,617.88 crore, greater than Rs 7,309.88 crore in the year-ago interval.

Within the reporting quarter, web curiosity revenue (NII) of the corporate rose 15.04 % on-year to Rs 50,93.93 crore. In the same interval final 12 months, NII stood at Rs 44,27.88 crore.

Internet curiosity margins of the non-bank lender elevated to eight.99 % in October-December quarter, from 8.93 % in 1 / 4 in the past interval and eight.33 %.

Asset high quality

Gross non-performing asset (NPA) ratio of the corporate fell to five.66 % as on December 31, 2023, as in comparison with 5.79 % as on September 30, 2023, and 6.29 % as on December 31, 2023.

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Story continues under Commercial

Internet NPA ratio stood at 2.72 % within the reporting quarter, decrease than 2.80 % in 1 / 4 in the past interval and three.20 % in a 12 months in the past interval.

NPA Provision Protection Ratio stood at 53.37 % as on December 31, 2023.

Belongings below Administration

Complete Belongings below Administration as on December 31, 2023 elevated by 20.70 % and stood at Rs 214,233.47 crore as in comparison with Rs 177,498.02 crore as on December 31, 2022 and Rs 202,640.96 crore as on September 30, 2023.

Borrowing

The corporate had borrowed Rs 1.78 lakh crore within the third quarter of the present monetary 12 months. Majority is from time period loans and public deposit.

Of the overall quantity, firm borrowed 25.97 % by way of time period loans and 24.30 % by way of public deposit.

This was adopted by non-convertible debentures and securitisation.