Cholamandalam Q4 net rises 33% at Rs 291 crore

By: | Published: April 24, 2018 3:39 AM

Cholamandalam Investment and Finance Company (Chola), the financial services arm of Rs 30,000-crore Chennai-headquartered Murugappa Group, on Monday reported a 32.6% jump in its net profit at Rs 291.09 crore for the fourth quarter of FY 18 as compared to Rs 219.55 crore in the same quarter previous fiscal.

The vehicle finance business disbursed Rs 6,820 crore as against Rs 4,407 crore clocking a growth of 55%.

Cholamandalam Investment and Finance Company (Chola), the financial services arm of Rs 30,000-crore Chennai-headquartered Murugappa Group, on Monday reported a 32.6% jump in its net profit at Rs 291.09 crore for the fourth quarter of FY 18 as compared to Rs 219.55 crore in the same quarter previous fiscal. Aggregate disbursements of the company for the quarter were at Rs 8,007 crore as against Rs 5,213 crore in Q4 of FY17, registering a growth of 54%, riding on the growth in commercial vehicle industry.

The vehicle finance business disbursed Rs 6,820 crore as against Rs 4,407 crore clocking a growth of 55%. The HCV and LCV segments continued to show strong growth, complemented by used vehicles. The vehicle finance business has recorded the highest disbursement volume during the quarter, said a statement by the company. The home equity business disbursed Rs 806 crore as against Rs 544 crore , registering a growth of 48%. Assets under management grew by 25% at Rs 42,879 crore compared to the last financial year, which stood at Rs 34,167 crore.

The capital adequacy ratio (CAR) of the company as on March 31, 2018, was at 18.4% (Tier I – 13.3% and Tier II -5.1%) as against the regulatory requirement of 15%. The board of directors of the company declared a final dividend of 20%, being Rs 2 per share on the equity shares, for the year ended March 31, 2018. Chola offers vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers.

The company operates from 873 branches across India with assets under management above Rs 40,000 crore. The subsidiaries of Chola are Cholamandalam Securities Ltd (CSEC), Cholamandalam Distribution Services (CDSL) and White Data Systems India Private Ltd (WDSI).

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition