Cholamandalam Net Profit Rises 28% To Rs 876 Crore
The total AUM stood at Rs 1,41,143 crore which was 36% more than the year-ago period.
Cholamandalam Investment & Finance Co. on Thursday reported a 28% 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% more loans at Rs 22,383 crore in the quarter, taking the overall loan book to Rs 63,940 crore, which jumped 40% on-year.
The total AUM stood at Rs 1,41,143 crore which was 36% more than the year-ago period.
Net interest income for the quarter rose by 41% to Rs 2,580 crore.
Vehicle finance book grew 18% to Rs 12,354 crore aided by steady growth in used volume, while loan against property grew 51% to Rs 3,409 crore and home loans grew 48% to Rs 1,587 crore driven by branch expansion into small towns.
SME loans grew 11% to Rs 1,981 crore and consumer and small enterprise loans jumped 48% to Rs 2,773 crore.
Its gross NPAs marginally declined to 3.92% as against 4.07% from September 2023 and net NPAs inched down to 2.56% from 2.59% in September 2023.
