
Shares of Shriram Finance Ltd on Friday recouped afternoon losses following the NBFC's March quarter results. The stock, which hit a low of Rs 2,337.35 earlier today, rebounded 7.04 per cent to eventually settle at Rs 2,502 on BSE, up 0.34 per cent.
The Nifty constituent said its net profit jumped 56.91 per cent and stood at Rs 2,021.28 crore compared with Rs 1,288.18 crore in the same period of the previous year. The consolidated net interest income (NII) for the fourth quarter rose 22.27 per cent to Rs 5,543.47 crore compared with Rs 4,533.63 crore in the same period last year, Shriram Finance said.
Shriram Finance dividend
The Shriram Finance board recommended a final dividend of Rs 15 per share of face value of Rs 10 each fully paid-up for the financial year, subject to approval of Members at the ensuing 45th AGM. With this the total dividend for the FY24 stood at Rs 45/- per share. Shriram Finance announced two interim dividends for FY24, the first interim dividend of Rs 20 per share on October 26, 2023, and the second of Rs 10 per share on January 25, 2024.