Sriram Finance Ltd. on Friday reported a 18.6% advance year-on-year in net profit for the first quarter of fiscal 2025.
The non-banking financial company recorded a net profit of Rs 2,031 crore for the quarter-ended June, as compared to Rs 1,712 crore over the same period last year, according to its stock exchange notification. This was in line with the Rs 2,081.2 crore estimate by analysts tracked by Bloomberg.
Total income increased by 20% year-on-year for the three months ended June, reaching Rs 9,610 crore, in comparison to Rs 8,008 crore reported over the same period a year ago.
It reported a 21% jump in net interest income at Rs 5,354 crore, as against Rs 4,439 crore last year.
Shares of the company closed 9.52% higher at Rs 2,934 apiece, as compared to a 1.80% advance in the NSE Nifty 50. The stock has risen 42.89% year-to-date and 61.28% over the past 12 months.
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