SHRIRAMFIN

Shares of leading vehicle finance player Shriram Finance tumbled over 8 percent on April 28 after the after the March quarter results failed to meet Street expectations. The AUM growth has come in lowest in eight quarters on a QoQ basis, with a sharp fall in gold loan ***** shares of the company were trading at Rs 599 apiece, the lowest level seen by the stock in the past 12 trading sessions. The NBFC reported a standalone net profit of Rs 2,139.39 crore during the reported quarter, marking a 10 percent rise from the Rs 1,945.87 crore net profit reported in Q4 FY24. This however failed to meet several analysts' estimates. Kotak Institutional Equities had estimated the company's net profit at Rs 2,202 crore, while Axis Securities had predicted the net profit to rise to Rs 2,198 crore. JM Financial had meanwhile estimated the company's net profit at Rs 2,175 crore. Shriram Finance's net interest income (NII) for the reported quarter grew over 13 percent to Rs 6,051.19 crore, while earning per share (basic) increased 9.85 percent to Rs 11.38.