Cholamandalam Investment and Finance Co. Ltd. (CIFCL) reported standalone net profit for the March quarter rose 24% YoY to ₹1,058 crore.
Net income grew 41% to ₹2,913 crore. Revenue from operations increased to ₹4,934 crore from ₹3,499 crore, the financial arm of the Murugappa Group said in a statement.
Total assets under management increased by 36% to ₹1,53,718 crore and CIFCL clocked disbursements of ₹24,784 crore, a growth of 18%.
Vehicle finance disbursements grew 6% to ₹12,962 crore aided by a steady growth. Loan against property disbursed was ₹4,273 crore against ₹2,762 crore. Home loans business grew by 24% to ₹1,747 crore driven by geographical expansion into Tier 3 and 4 locations.
Small and medium enterprises loan business grew by 2% to ₹2,136 crore, while consumer and small enterprise loans disbursed stood at ₹3,301 crore (₹2,364 crore) and secured business and personal loan business rose 87% to ₹366 crore.
Gross non performing assets declined to 3.54% from 3.92% and net NPA dropped to 2.32% from 2.56%. Capital adequacy ratio stood at 18.57%.
CIFCL continues to hold cash balance of ₹7,899 crore, with a total liquidity position of ₹8,315 crore (including undrawn sanctioned lines).
The board approved issue of secured redeemable non‐convertible debentures aggregating to ₹10,000 crore in one or more tranches and also recommended a final dividend of ₹0.70 per share, to be paid by August 24.
The board of Cholamandalam Home Finance Ltd., a wholly owned subsidiary, approved equity infusion of ₹25 crore in Cholamandalam Securities Ltd., a wholly owned subsidiary.
