Shriram Finance’s consolidated net profit rose 59% to Rs 3,684 crore in the second quarter. Standalone net profit was Rs 3,677 crore, compared with Rs 2,307 crore in the same period of the previous fiscal year. Assets Under Management (AUM) grew 17% year-on-year to Rs 3.29 lakh crore.
The company lowered its AUM growth target for fiscal year 2027 to 15-17%, from 18%.
Emkay and Nuvama cut their price targets, citing concerns about borrowers’ repayment ability in some rural areas. Both brokerages maintained their Buy ratings, pointing to strong growth and good margins. Shriram Finance’s stock had closed 3.67% lower the previous day.