Net interest income increased 20.02 % to Rs 5,336.06 crore in Q4 FY24 as against Rs 4,445.89 crore recorded in Q4 FY23.

As on 31 March 2024, the total assets under management rose 21.10% to Rs 2,24,861.98 crore as compared to Rs 1,85,682.86 crore as on 31 March 2023.

Liquidity coverage ratio was at 195.55% as on 31 March 2024 as against 209.86% as of 31 March 2023. Cost to income ratio decreased to 26.68% in Q4 FY24 from 30.15% reported in Q4 FY23.

The firm's return on assets (ROA) and return on equity (ROE) stood at 3.19% and 16.37%, respectively in the quarter ended 31 March 2024.

For FY24, the company?s net profit increased 20.26% to Rs 7,190.48 crore on 17.43% rise in total income to Rs 34,997.61 crore over FY23.

Meanwhile, the board declared a final dividend of Rs 15 per share for FY24. The record date for same has been fixed as on 23 July 2024 and it will be paid between 24 July 2024 to 30 July 2024.

Furthermore, the NBFC's board has also approved resource mobilisation plan for issuance of debt securities viz. redeemable non-convertible debentures (NCDs)/subordinated debentures, bonds or any other permissible instrument on private placement basis in tranches, bonds/notes in offshore markets, external commercial borrowings and other methods of borrowing for the purpose of business of the company for the financial year 2024-2025.

Lastly, the board of directors approved acquisition of 100% stake in Shriram Overseas Investments from Shriram Investments Holdings.

Shriram Finance is India's largest retail asset financing non-banking finance company (NBFC). It is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses.

The scrip rose 0.34% to end at Rs 2,502 on the BSE.

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