Sriram Finance's Q2FY24 Financial Performance Review
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.
| Particulars | Q2FY23 | (Y-o-Y) % change | Q1FY24 | (Q-o-Q) % change | Q2FY24 |
| Total Income (₹crs.) | 7,591 | 17.14 | 8,295 | 7.2 | 8,892 |
| Expenses (₹crs.) | 5,467 | 18.68 | 5,995 | 8.22 | 6,488 |
| Net Profit (₹crs.) | 1,578 | 13.5 | 1,712 | 4.61 | 1,791 |
| Margin (%) | 20.79 | -0.65 | 20.64 | -0.50 | 20.14 |
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.