Shriram Finance- a division of Nify50 is scheduled to release its December quarter earnings on Friday (January 24, 2024). For the quarter under review, Zee Business research expects the company’s net profit to rise 15.8 percent year-on-year to Rs 2,105 crore as against Rs 1,818 crore in the corresponding period last year. Besides, after the sale of the real estate finance subsidiary-the company is likely to get an odd profit of Rs 1,310 crore during the review period, taking the net profit to Rs 3,415 crore after accounting for exceptional gains.
Net interest income or NII during the review quarter is expected to increase by 15 percent year-on-year (YoY) from Rs 4,911 crore reported in Q3FY24 to Rs 5,655 crore.
Moreover, during the reporting quarter, NBFC’s gross assets under management or AUM is expected to increase by 18 percent year-on-year. In the previous year, the company’s AUM was reported at Rs 2.14 lakh crore.
Analysts expect the financial company’s margin to decline year-on-year and reach 9.1 percent in the October-December quarter.
An important observation
Investors will look for loan growth in the commercial vehicle segment.
Shriram Finance’s lowest share price
Last year, the stock gained 15 percent, while last month it fell to 8 percent. Ahead of its results tomorrow, the stock traded over 2 percent higher at Rs 531.25 apiece on the BSE.
