Cholamandalam Investment Q2 net up 26% to ₹963 cr.

Cholamandalam Investment and Finance Co. Ltd. (CIFCL) standalone net profit for the September quarter rose 26% over the year earlier period to ₹963 crore.

Total revenue from operations increased to ₹6,227 crore from ₹4,435 crore. Disbursements were up 13% to ₹24,314 crore, while net income grew 37% to ₹3,238 crore.

Net interest margin improved to 7.5% from 7.4% and Assets Under Management increased 33% to ₹1,64,642 crore, the Murugappa group firm said in a statement.

Of the total disbursements, Vehicle Finance accounted for ₹12,336 crore (up 5%), Loan Against Property ₹4,295 crore (up 35%), Home Loan ₹1,823 crore (up 16%), Small and Medium Enterprises Loan ₹1,959 crore (up 1%), Consumer and Small Enterprise Loans ₹3,588 crore (up 26%) and Secured Business and Personal Loan ₹312 crore (up 27%).

Gross non-performing Assets declined to 3.78% from 4.07%, while net NPA declined to 2.48% from 2.59%. The Capital Adequacy Ratio was 19.50%.

CIFCL continues to hold a strong liquidity position with ₹13,864 crore as cash balance with a total liquidity position of ₹14,404 crore.

Published - October 25, 2024 09:09 pm IST