Cholamandalam Investment Q1 net profit rises 30% to Rs 942 crore; stock up 4%

The shares of the company ended July 26 higher by 3.55 percent at Rs 1,412.05 on NSE.

Cholamandalam Investment and Finance Company on July 26 reported a 29.8 percent year-on-year jump in net profit at Rs 942.23 crore in the first quarter of FY25.

Sequentially, the net profit was down from from Rs 1,058.1 crore in the March quarter, the company said in an exchange filing on July 26.

The lender’s net interest income jumped 40 percent to Rs 2,573 crore, according to the stock filing.

Its gross non-performing assets (NPAs) were at 3.62 percent in the June quarter against 3.54 percent in the March, while the net NPA came in at 2.37 percent against 2.32 percent in the March quarter.

The lender also issued a secured and/or unsecured non-convertible debentures (NCDs) aggregating to Rs 48,000 crore in one or more tranches.

Q1 key highlights

-Disbursements jumped 22 percent to Rs 24,332 crore during the June quarter

-Total assets under management were at Rs 1,68,832 crore, up 38 percent YoY

-Vehicle finance disbursements were at Rs 12,766 crore against Rs 11,301 crore in Q1 FY24, registering a growth of 13 percent

-Loan against property (LAP) business disbursed Rs 3,874 crore  in Q1FY25, 45 percent more than in the year-ago period.

-Home loan business disbursed Rs 1,778 crore, growing 22 percent from the previous year

-Small and medium enterprises loan (SME) business disbursed Rs 2,160 crore, 6 percent more than Q1FY24

-Consumer and small enterprise loans (CSEL) disbursed Rs 3,486 crore in Q1FY25 against Rs 2,355 crore in Q1FY24

The stock ended 3.55 percent higher at Rs 1,412.05 on NSE.