Moneycontrol
Last Updated : Jan 25, 2017 08:33 PM IST | Source: PTI

Cholamandalam Investment Q3 Net rises 12 pc at Rs 163 cr

Cholamandalam Investment and Finance Company today reported 12 percent increase in consolidated net profit at Rs 163.38 crore for the third quarter of 2016-17 financial year.

 
 
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Cholamandalam Investment and Finance Company today reported 12 percent increase in consolidated net profit at Rs 163.38 crore for the third quarter of 2016-17 financial year.


The company had reported a net profit of Rs 148 crore in the October-December quarter of the previous fiscal.


"Total income has increased to Rs 1,184.44 crore for the quarter ended December 31, 2016, from Rs 1,060.09 crore for the same quarter a year ago," the company said in a regulatory filing.


On standalone basis, net profit increased by 11.5 percent to Rs 162.52 crore in October-December from Rs 145.70 crore a year ago, while income increased by a similar margin to Rs 1,175.76 crore in the period from Rs 1,053.90 crore in October-December, 2015.


Disbursements rose by 3 year-on-year to Rs 4,373 crore during October-December period of 2016-17. It disbursed Rs 3,491 crore for vehicle financing, up from Rs 3,245 crore in the December quarter of 2015-16.


"This was possible on account of steady growth in heavy commercial vehicle volumes, and in car/MUV segment during October 2016. Home equity disbursements were at Rs 619 crore in the third quarter of 2016-17 as against Rs 882 crore in year ago period," the company said in a statement.


The net income grew by 12 percent to Rs 610 crore during the quarter, from Rs 542.98 crore a year earlier.


The company declared an interim dividend of 35 percent of Rs 3.50 per equity share for the quarter.


The net income margin for the quarter was 8.4 percent, marginally down from the year ago's 8.77 percent.


The company said it was able to exit the quarter at a gross non-performing asset (GNPA) level of 3.8 percent at 4 months' overdue, which is slightly higher than the GNPA at the end of September 2016 (3.5 percent).

Shares of the company closed 3.55 percent higher at Rs 1,045.80 apiece on BSE today.

First Published on Jan 25, 2017 08:24 pm
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