Shriram Finance Q3 net up 161% to Rs 1,777 cr on higher net interest income

Total AUM rose to Rs 1.77 trillion as on December 31, 2022 from Rs 1.24 trillion a year earlier

Shriram Finance Ltd’s net profit for the third quarter rose by 161 per cent year on year (YoY) basis to Rs 1,776.9 crore on higher growth in net interest income and improved asset quality.

The non-banking finance company’s net interest income for quarter ended December 2022 (Q3FY23) expanded by 85.42 per cent YoY to Rs 4,427.8 crore.  

Its stock closed 3.28 per cent higher at Rs 1,289 per share on BSE.

According to an investor presentation, its net interest margin (NIM) on the assets under management (AUM) stood at 8.52 per cent in Q3FY23 as against 6.65 per cent a