Shriram Finance Ltd. on Friday announced second interim dividend of Rs 2.50 per share at a face value of Rs 2 each for fiscal 2025.
The lender declared Jan. 31, 2025, as the record date for the dividend and the payment for the same will be made to the eligible shareholders on, or before Feb. 22, according to an exchange filing on Friday.
Earlier, Shriram Finance declared an interim dividend of Rs 22 per equity share in financial year 2025.
Shriram Finance recorded a 73.4% year-on-year surge in its net profit for the December quarter, driven by a one-time gain of Rs 1,554 crore from the sale of Shriram Housing Finance.
The non-bank finance company's net profit reached Rs 3,249 crore for the quarter ended Dec. 31, 2024, up from Rs 1,874 crore in the same period last year.
Excluding the one-time gain, the company's net profit would have declined by 9.5%, compared to the previous year.
Shares of Shriram Finance closed 0.44% lower at Rs 527.45 apiece on the NSE, compared to a 0.49% fall in the benchmark Nifty 50. The share price has risen 14.54% in the last 12 months.
Out of 41 analysts tracking the company, 39 maintain a 'buy' rating on the stock, one recommends 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 64.4%.
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