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Cholamandalam Investment & Finance Company Ltd News

Cholamandalam Investment Q4 result: Profit rises 25% to Rs 1,065 crore

Cholamandalam Investment and Finance Company on Tuesday reported a 24.5 per cent rise in net profit to Rs 1,065 crore for the March quarter on account of an increase in core business. The Murugappa Group firm had earned a consolidated profit of Rs 855 crore during the corresponding quarter of the previous year. During the quarter, the company's total income increased to Rs 5,499 crore as against Rs 3,835 crore a year ago, Cholamandalam Investment and Finance Company said in a regulatory filing. Interest income grew to Rs 4,938 crore during the period under review from Rs 3,499 crore in the year-ago period. Total expense rose to Rs 4,071 crore compared to Rs 2,672 crore in the fourth quarter of FY23. The board recommended a final dividend of 70 paise per share (35 per cent per share of face value of Rs 2 each) for the year ended March 2024, it said. On the asset quality side, the company's gross Non-Performing Assets (NPAs) were reduced to 3.54 per cent of gross advances as of Mar

Cholamandalam Investment Q4 result: Profit rises 25% to Rs 1,065 crore
Updated On : 30 Apr 2024 | 7:27 PM IST

Murugappa Group's finance firm Chola expects AUM growth of 20-25% in FY25

Company expects healthy growth in its key business of vehicle loans and new initiatives in lending to consumer and small enterprises

Murugappa Group's finance firm Chola expects AUM growth of 20-25% in FY25
Updated On : 29 Jan 2024 | 3:52 PM IST

Cholamandalam Q3 results: Net profit up 28% at Rs 876 cr on interest income

Cholamandalam Investment & Finance Company on Thursday reported a 28 per cent increase in net profit to Rs 876 crore for the December quarter driven by higher disbursements and the resultant interest income. The Chennai-based company disbursed 27 per cent more loans at Rs 22,383 crore in the quarter, taking the overall loan book to Rs 63,940 crore, which jumped 40 per cent on-year. The total AUM stood at Rs 1,41,143 crore which was 36 per cent more than the year-ago period. Net interest income for the quarter rose by 41 per cent to Rs 2,580 crore. Vehicle finance book grew 18 per cent to Rs 12,354 crore aided by steady growth in used volume, while loan against property grew 51 per cent to Rs 3,409 crore and home loans grew 48 per cent to Rs 1,587 crore driven by branch expansion into small towns. SME loans grew 11 per cent to Rs 1,981 crore and consumer and small enterprise loans jumped 48 per cent to Rs 2,773 crore. Its gross NPAs marginally declined to 3.92 per cent as against

Cholamandalam Q3 results: Net profit up 28% at Rs 876 cr on interest income
Updated On : 25 Jan 2024 | 8:32 PM IST

Murugappa Group's Chola Q3 results: Profit up 28% at Rs 876 crore

Loan Against Property (LAP) business disbursed Rs 3,409 crore during the quarter, as against Rs 2,255 crore during the same period last fiscal, with a growth rate of 51 per cent

Murugappa Group's Chola Q3 results: Profit up 28% at Rs 876 crore
Updated On : 25 Jan 2024 | 8:45 PM IST