Chola PAT soars 470% to Rs 243 cr

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May 08, 2021 8:27 AM

Chola's assets under management as of March 31,2021, grew 14% to Rs 76,529 crore, compared to Rs 66,943 crore an year ago period, it added.

Aggregate disbursements in Q4 FY 21 were at Rs 8,071 crore, as against Rs 5,663 in Q4 FY 20, with a growth of 43%.

Cholamandalam Investment and Finance Company (Chola), the financial services arm of the Murugappa Group, on Friday reported a 470% jump in its profit after tax (PAT) to Rs 243 crore for the fourth quarter of FY21, as compared to Rs 43 crore in the corresponding quarter of the last fiscal. Total income of the company stood at Rs 2,461 crore, as against Rs 2,151 crore, registering a growth of 14%.

Aggregate disbursements in Q4 FY 21 were at Rs 8,071 crore, as against Rs 5,663 in Q4 FY 20, with a growth of 43%.

The vehicle finance business clocked a volume of Rs 6,153 crore in Q4FY21 as against Rs 4,703 crore in Q4 FY20, registering growth of 31%, Chola said in a statement.

The loan against property (LAP) business disbursed Rs 1,191 crore in Q4FY21, as against Rs 589 crore in Q4FY20, clocking a growth of 102%. Home loan business disbursed Rs 538 crore, compared with Rs 271 crore, a growth of 99%.

Chola’s assets under management as of March 31,2021, grew 14% to Rs 76,529 crore, compared to Rs 66,943 crore an year ago period, it added.

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