Cholamandalam Investment Q1 net profit rises 30% to ₹942 cr.
The Hindu
Cholamandalam Investment and Finance Co. Ltd. reports strong financial growth with increased profits, assets, and disbursements.
Cholamandalam Investment and Finance Co. Ltd., (CIFCL) reported standalone net profit for the June quarter rose 30% from the year-earlier period to ₹942 crore.
Total revenue from operations increased to ₹5,785 crore from ₹4,063 crore. Net income grew by 43% to ₹3,033 crore. Net interest margin rose to 7.6% (7.3%)
Assets under management increased 38% and stood at ₹1,68,832 crore, CIFCL said in a statement.
Aggregate disbursements grew 22% to ₹24,332 crore, of which vehicle finance accounted for ₹12,766 crore (up 13%), loan against property ₹3,874 crore (up 45%), and home loan ₹1,778 crore up 22%).
Small and medium enterprises loans grew 6% to ₹2,160 crore, consumer and small enterprise loans ₹3,486 crore (up 48%) and secured business and personal loan ₹268 crore (up 48%).
Gross non-performing asset contracted to 3.62% from 4.30%, while net NPA degrew to 2.37% from 2.82%.
CIFCL continues to hold a strong liquidity position with ₹14,324 crore as cash balance. The capital adequacy ratio was 18.03%. Provision coverage ratio improved to 45.50% from 45.40%.
Teachers, officers on deputation to other states to be called back soon: Himachal education minister
Himachal education news: Education minister Rohit Thakur discusses plans for exposure visits, teacher attendance, and school functions in Himachal Pradesh.