MUMBAI: Shriram Finance, the largest asset financing non-banking player, has reported a 9% growth in standalone net income for the three months to June at Rs 2,155.7 crore, buoyed by a double-digit jump in interest income and stable asset quality, even though the key net interest income inched down 41 bps to 6,051 crore.
Total income rose 20% to Rs 11,542.44 crore and the total assets under management increased by 16.62% to Rs 2.72 trillion, driven by growth in key segments such as commercial vehicles. Of the total AUM, around 45% or Rs 1.23 trillion, come from the commercial vehicle segment.
Net interest income increased 12.55% to Rs 6,026.43 crores from Rs 5,354.47 crore in the same period in the previous year.