Shriram Finance's board of directors on Friday approved the sub-division of 1 equity share into 5 fully paid equity shares and will set the record date for the purpose of split after obtaining shareholders' approval.

The announcement was made after market hours along with the company's September quarter earnings where the NBFC reported a profit after tax (PAT) growth of 18.3% at Rs 2,071.26 crore as against Rs 1,750.84 crore recorded in the same period of the previous year.

The net interest income (NII) for the second quarter ended increased by 16.37% and stood at Rs 5,606.74 crores as against Rs 4,818.18 crore in the same period of the previous year.

The company's board declared an interim dividend of Rs 22 per share and has set the record date on November 7, 2024.

Total assets under management (AUM) as of September 30, 2024, increased by 20% and stood at Rs 2,43,042 crore as compared to Rs 2,02,641 crore as of September 30, 2023, and Rs 2,33,444 crore as of June 30, 2024.