Cholamandalam Investment Q4 Results: Profit rises 25% to Rs 1,065 crore
Cholamandalam Investment Q4 Results: Cholamandalam Investment and Finance Company reported a 24.5 per cent rise in net profit to Rs 1,065 crore for the March quarter on account of an increase in core business.
Cholamandalam Investment Q4 Results: Cholamandalam Investment and Finance Company on Tuesday reported a 24.5 per cent rise in net profit to Rs 1,065 crore for the March quarter on account of an increase in core business. The Murugappa Group firm had earned a consolidated profit of Rs 855 crore during the corresponding quarter of the previous year.
During the quarter, the company's total income increased to Rs 5,499 crore as against Rs 3,835 crore a year ago, Cholamandalam Investment and Finance Company said in a regulatory filing.
Interest income grew to Rs 4,938 crore during the period under review from Rs 3,499 crore in the year-ago period.
Total expense rose to Rs 4,071 crore compared to Rs 2,672 crore in the fourth quarter of FY23.
The board recommended a final dividend of 70 paise per share (35 per cent per share of face value of Rs 2 each) for the year ended March 2024, it said.
On the asset quality side, the company's gross Non-Performing Assets (NPAs) were reduced to 3.54 per cent of gross advances as of March 31, 2024, from 4.63 per cent by the end of March 2023.
Net NPAs also came down to 2.32 per cent of the advances from 3.11 per cent at the end of 2023.
Provision Coverage Ratio climbed to 35.18 per cent as against 33.77 per cent at the end of March 2023.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
08:29 PM IST