Cholamandalam Financial Posts Over Rs 1,159 Crore Profit For First Quarter

Cholamandalam Financial Holdings Ltd. has on Friday reported a consolidated profit after tax of Rs 1,159.56 crore for the first quarter of the fiscal 2025.

The NBFC, which is a part of the Murugappa Group, had achieved a profit after tax of Rs 791.78 crore in the same quarter during the previous year.

For the financial year ending March 31, 2024, the company had reported a consolidated profit after tax of Rs 3,850.56 crore.

During the June quarter, consolidated total income rose to Rs 7,677.43 crore, up from Rs 5,714.59 crore in the corresponding quarter last year.

For the financial year ending March 31, 2024 the consolidated total income stood at Rs 26,086.76 crore.

Cholamandalam Investment and Finance Co., in which Cholamandalam Financial Holdings holds about 44.38% stake, disbursed Rs 24,332 crore loans in the April-June 2024 quarter as against Rs 20,015 crore in the corresponding quarter of last year.

Cholamandalam MS General Insurance Co., in which the company holds a 60% stake, registered a gross written premium of Rs 1,957 crore during the quarter under review, as against Rs 1,731 crore in the corresponding quarter of last year.

Cholamandalam MS Risk Services Ltd., a joint venture company in which Cholamandalam Financial Holdings has about 49.5% stake, registered a total income of Rs 16.29 crore for the quarter ending June 30, 2024 as against Rs 15.28 crore in the corresponding quarter of last year.

(With Inputs From PTI)