On Friday, January 24, 2024, Shriram Finance, a component of the Nifty50, is expected to report its December quarter earnings. According to Zee Business Research, the company’s net profit for the review quarter is expected to increase 15.8% year over year to Rs 2,105 crore from Rs 1,818 crore in the same time last year. Additionally, the business is expected to realize an extraordinary gain of Rs 1,310 crore during the review period following the sale of its home finance subsidiary, bringing the total profit to Rs 3,415 after deducting the exceptional profits.
Net interest income, or NII, is anticipated to increase by 15% year over year (YoY) during the review quarter, from Rs 4,911 crore recorded in Q3FY24 to Rs 5,655 crore.
Additionally, it is anticipated that the most significant retail NBFC’s assets under management, or AUM, would increase by 18% yearly during the reporting quarter. The company’s AUM for the previous year was Rs 2.14 lakh crore.
Analysts predict that the financial company’s margin will drop annually and reach 9.1% in the October–December quarter. The expansion of loans in the commercial vehicle market will interest investors.
The stock increased by 15% in the last year but dropped by up to 8% in the previous month. The stock was up more than 2 percent at Rs 531.25 a share on the BSE ahead of its results tomorrow.
