Shriram Finance Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 25, 2024 at 06:29 am EST
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Shriram Finance Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 0.1 million compared to INR 0.5 million a year ago. Revenue was INR 93,057.5 million compared to INR 77,983.1 million a year ago. Net income was INR 18,662.4 million compared to INR 17,988.8 million a year ago. Basic earnings per share from continuing operations was INR 49.7 compared to INR 48.27 a year ago. Diluted earnings per share from continuing operations was INR 49.57 compared to INR 48.06 a year ago.
For the nine months, sales was INR 1.9 million compared to INR 1.8 million a year ago. Revenue was INR 264,946.9 million compared to INR 225,236.5 million a year ago. Net income was INR 53,575.8 million compared to INR 47,258.5 million a year ago. Basic earnings per share from continuing operations was INR 142.84 compared to INR 126.53 a year ago. Diluted earnings per share from continuing operations was INR 142.34 compared to INR 126.01 a year ago.
Shriram Finance Limited is an India-based retail asset financing non-banking finance company (NBFC). The Company is a finance provider catering to the needs of small road transport operators and small business owners and is engaged in organized financing of pre-owned commercial vehicles and two- wheelers. It has a vertically integrated business model and offers various financing products, which include passenger commercial vehicles, loans to micro and small and medium enterprises (MSMEs), tractors and farm equipment, gold, personal loans and working capital loans. It operates in the areas of loan origination, valuation of pre-owned commercial vehicles and other assets, and collections. It has a presence in consumer finance, life insurance, general insurance, stockbroking, and distribution businesses.