Shriram Finance Q1 Profit Surges 19% to Rs 2,031 Cr

New Delhi, Jul 26 (PTI) Shriram Finance Ltd, the flagship company of diversified conglomerate Shriram Group, on Friday reported 19 per cent increase in consolidated net profit at Rs 2,031 crore for June quarter FY25.

The financial services firm registered a consolidated net profit of Rs 1,712 crore during the corresponding quarter of last year.

Total income during the quarter under review grew to Rs 9,610 crore from Rs 8,293 crore a year ago, Shriram Finance said in a regulatory filing.

Total expenses rose to Rs 6,943 crore from Rs 5,760 crore in the same quarter a year ago.

The company's asset quality improved with Gross Non-Performing Assets (NPAs) declining to 5.39 per cent of gross advances as of June 30, 2024, from 6.03 per cent by the end of first quarter of the previous fiscal.

Net NPAs also moderated to 2.71 per cent of the advances, from 2.96 per cent at the end of the first quarter last year.