Cholamandalam Financial reports Q4 standalone net at Rs 35.87 crore

Cholamandalam Financial Holdings Ltd has reported a standalone profit for the fourth quarter ending March 31, 2023 at Rs 35.87 crore, the Murugappa Group firm said on Friday. The company had registered a standalone profit at Rs 36.30 crore during the corresponding quarter of the previous year.

For the year ending March 31, 2023, the standalone profit stood at Rs 57.87 crore as against Rs 55.51 crore registered last year.

The standalone total income remained flat at Rs 50.85 crore as against Rs 50.85 crore recorded in the same period of last year.

For the year ending March 31, 2023, the standalone total income marginally increased to Rs 83.76 crore from Rs 83.51 crore recorded a year ago.

Cholamandalam Investment and Finance Company Ltd in which the company holds about 45.36 per cent stake disbursed Rs 66,532 crore in FY23 as against Rs 35,490 crore in FY22. Cholamandalam MS General Insurance Company Ltd, a subsidiary in general insurance business, in which the company holds 60 per cent stake, registered a Gross Written Premium of Rs 6,407 crore in FY23 as against Rs 5,194 crore in FY22 increase of 23 per cent.

As of March 31, 2023, the Cholamandalam MS General Insurance Company has an investment book of Rs 14,271 crore. Cholamandalam MS Risk Services Ltd, a joint venture company in which the firm holds 49.5 per cent stake registered a total income for the year ending March 31, 2023 at Rs 64.93 crore as against Rs 59.69 crore registered year ago.

The Board of Directors has recommended a final dividend of 55 per cent being Re 0.55 per equity share of face value at Re 1 of the company for the year ending March 31, 2023 subject to the approval of shareholders, the statement said.

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