Shriram Finance Thrives Despite Global Headwinds: Reports 40% Profit Jump
Non-banking lender Shriram Finance reported a 40% profit increase in the March quarter, attributing gains to better margins and reduced expenses. Despite challenges from West Asia tensions and potential monsoon issues, the firm maintains its 18% growth target for FY27, supported by recent capital influx from Japan's MUFG Bank.
- Country:
- India
Shriram Finance, a major non-banking lender, reported a substantial 40% increase in consolidated profit for the March quarter, reaching Rs 3,021 crore.
The company highlights risks arising from the West Asia crisis and potential monsoon deficit but remains committed to its 18% assets under management growth target for FY27 despite these hurdles.
Shriram Finance's growth was primarily driven by improved margins, stable asset quality, and lower operating expenses, with recent capital infusion from Japan's MUFG Bank playing a crucial role.
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