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Shriram Finance Shares Fell 6.57% Despite 18% Surge in Q4

Shriram Finance Ltd posted a consolidated PAT of Rs 1,285.19 crore in Q4FY22-23.

On April 28, Shriram Finance Limited’s shares sank 6.57% in early trade after the firm documented a combined net profit of Rs 1,288 crore for Q4FY23, up 18% against Rs 1,091 crore in the year-ago period, according to a commercial filing.

For the entire fiscal year, the firm’s profit after tax soared to Rs 6,020 crore, a steep surge of 122% against Rs 2,721 crore in FY22. The company said its Board of Directors (BOD) had suggested a final dividend of Rs 20 per equity share of a minimum face value of Rs 10 per share fully paid up, i.e., 200%, for the FY 2022-23.

During the fourth quarter, the company’s combined Net Interest Income (NII) was at Rs 4,533 crore, 72% higher than Rs 2,627.82 crore chronicled a year ago.

Thus, the NII mounted at Rs 17,272 crore, nearly double Rs 9,316 crore for FY22. The aggregate Assets under Management (AUM) for March 31, 2023, was Rs 1,93,729 crore, against Rs 1,27,040 crore in the year-ago period, the company said in an exchange filing.

The Shriram Finance stock has lost 5.01% of its value since the beginning of 2023. Thus, underperforming the benchmark Nifty50 index was flat during the same duration.

On a five-year basis, the Shriram Finance stock has outperformed the Nifty50 benchmark index. The Shriram Finance stock has lost 15.33% of its value over the previous five years. In contrast, the Nifty50 benchmark has specified a return of 66.73% during the same duration.

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