Cholamandalam profit after tax up 37% to Rs 431 crore in Q1

By: |
July 31, 2020 8:58 AM

Vehicle finance business has clocked a volume of Rs 3,231 crore, against Rs 6,940 crore in the previous year, reporting a decline of 53% Y-o-Y.

Aggregate disbursements for the quarter were at Rs 3,589 crore.Aggregate disbursements for the quarter were at Rs 3,589 crore.

Cholamandalam Investment and Finance Company, (Chola), part of Murugappa Group, on Thursday reported a 37% rise in its profit after tax (PAT) to Rs 431 crore for the first quarter of FY21, compared with Rs 314 crore in the corresponding quarter of the previous fiscal. Total income of the company was at Rs 2,114 crore, as against Rs 2,030 crore, registering a growth of 4%.

Aggregate disbursements for the quarter were at Rs 3,589 crore, against Rs 8,572 crore in the previous year, a decline of 58%.

Disbursements started to pick up after lockdown relaxation post May 15, the company said. Vehicle finance business has clocked a volume of Rs 3,231 crore, against Rs 6,940 crore in the previous year, reporting a decline of 53% Y-o-Y.

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