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Sriram Finance's Q2FY24 Financial Performance Review

Oct 27, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of Sriram Finance for Q2FY24 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
Sriram Finance reported a total income of ₹8,892 crores for Q2FY24. This represents a substantial 17.14% increase compared to the same quarter in the previous fiscal year. Additionally, the company showed a 7.2% growth in revenue sequentially.

EXPENSES: 
Expenses for Sriram Finance in Q2FY24 amounted to ₹6,488 crores, reflecting an 8.22% increase compared to the preceding quarter. When compared to the same quarter in the previous fiscal year, Q2FY23, expenses increased by 18.68%.

NET PROFIT: 
The net profit of Sriram Finance for Q2FY24 was ₹1,791 crores, demonstrating a 4.61% growth compared to the preceding quarter. On a year-on-year basis, there was a 13.5% increase in net profit.

MARGINS: 
Sriram Finance's margin in Q2FY24 was 20.14%, with a marginal decrease of 0.50% compared to the preceding quarter. Year-on-year, the company maintained a stable margin, showing only a slight decrease of 0.65%.

In conclusion, Sriram Finance's financial performance in Q2FY24 reflects steady growth. The company reported a substantial increase in revenue, coupled with a growth in net profit. Despite a minor dip in margin, the overall performance for this quarter remains robust. 

Stay tuned for more detailed updates on Sriram Finance's financial performance in the coming quarters.