Moneycontrol
Last Updated : Apr 30, 2016 01:05 PM IST | Source: PTI

Cholamandalam Investment Q4 net surges 42% to Rs 192 crore

"The profit was driven by pick up in volumes, stable gross NPA numbers and lower cost of funds," Cholamandalam Investment Executive Vice-President and Chief Financial Officer D Arul Selvan told PTI.

 
 
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Cholamandalam Investment and Finance reported a 42 percent growth in net profit at Rs 192 crore for the March quarter, helped by higher disbursements and reduction in cost of funds.


The company had reported a profit after tax (PAT) of Rs 135 crore in the same period last year.


For the full year (2015-16), PAT stood at Rs 568 crore, up 31 percent over Rs 435 crore posted last year.


"The profit was driven by pick up in volumes, stable gross NPA numbers and lower cost of funds," Cholamandalam Investment Executive Vice-President and Chief Financial Officer D Arul Selvan told PTI.


Aggregate disbursements stood at Rs 4,941 crore in the January-March period as against Rs 3,509 crore in the year-ago quarter.


In the vehicle finance business, the company disbursed Rs 3,760 crore, while home equity disbursement grew by 16 percent to Rs 994 crore.


The gross NPA was at 3.53 percent (at 4 months' overdue) and net NPA was at 2.13 percent.


The company has created an additional standard asset provision for Rs 54.80 crore towards provisioning for 3 months' overdue, to be complied by March 2018 as per RBI guidelines.


Net Income Margin (NIM) was 9.4 percent for the quarter compared to 8 percent last year.


"The NIM was strengthened by a healthy increase in interest income, reduction in cost of funds and substantial increase in fee and other income," Selvan said.

Cost of funds declined to 9.6 percent in Q4 from 9.92 percent in the year-ago period. The capital adequacy ratio (CAR) of the company was at 19.68 percent as against the regulatory requirement of 15 percent.

First Published on Apr 30, 2016 01:00 pm
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