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Shriram Finance on Thursday reported over 25 per cent jump in net income at Rs 1,308.31 crore in the March quarter, as against Rs 1,086.13 crore in the trailing 12 months period, on robust net interest income which almost doubled.

Shriram Finance is the new entity after the merger of Shriram Transport Finance Company, Shriram City Union Finance and Shriram Capital, which came into effect from end-November last.

The company in a statement said its key net interest income on a standalone basis for the quarter jumped to Rs 4,445.89 crore from Rs 2,627.82 crore in the same period previous year, while the same for the full year stood at Rs 16,963 crore as against Rs 9,316 crore in FY22, from which the company earned Rs 5979.34 crore, which is more than double of what it had earned in FY22 when it stood at Rs 2,707.93 crore.

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The company did not share its bad loan ratio and the provisions thereof in the statement or in the exchange filing.

Its assets under management rose to Rs 1,85,682.86 crore, up from Rs 1,27,040.86 crore in March 2022, primarily due to the merger of two sister concerns.

On a consolidated level, net interest income for the year jumped to Rs 17,272.45 crore from Rs 9,316.06 crore and consolidated net profit more than three-folds to Rs 6,020.03 crore from Rs 2,721.10 crore.

Consolidated assets under management jumped to Rs 1,93,729.46 crore from Rs 1,27,040.86 crore in March 2022, which was Rs 1,84,676.18 crore in December 2022.

The board has recommended a final dividend of Rs 20 per share of face value of Rs 10 for the year. This is in addition to the interim dividend of Rs 15 per share declared in December 2022.