Chola Investments profit up 6% in Q4

Written by fe Bureau | Chennai | Updated: Apr 29 2014, 16:00pm hrs
Cholamandalam Investment and Finance Company, a leading NBFC and part of the Murugappa Group, reported a 6% growth in its net profit for the quarter ended March 31 at R90.73 crore, compared to R85.76 crore in the same quarter last fiscal. For the full year, the net profit jumped 19% to R364.01 crore, against R306.55 crore in FY13.

The total assets under management went up by 24%, crossing the R25,000-crore mark. Disbursements in vehicle finance were marginally lower while disbursements in home equity loans grew by 23% compared to the same period last year.

The company disbursed R2,795 crore in vehicle finance, against R3,140 crore in Q4 of 2012-13 and disbursed R785 crore in home equity loans, against R638 crore in Q4 of 2012-13.

The aggregate disbursements of the company for the quarter were at R3,673 crore, against R3,808 crore in Q4 of 2012-13. The total income during Q4 was at R847.95 crore, compared to R725.95 crore in Q4 of 2012-13, registering a 17% growth. Profit before tax was at R137.58 crore, against R122.47 crore in Q4 of 2012-13, a growth of 12%.

For the full year, the company disbursed R10,128 crore in vehicle finance against R9,882 crore in FY13, disbursed R2,810 crore in home equity loans against R2,161 crore in FY13 and in the new businesses disbursed R176 crore.