Cholamandalam Investment and Finance Company Ltd (Chola) reported a net profit rising 24 percent year-on-year to Rs 1,058 crore in Q4 FY25, up from Rs 853 crore in the same quarter last year.
Net interest income (NII) for the quarter surged by 30.8 percent year-on-year to Rs 2,006.9 crore, reflecting strong momentum in core lending operations.
Total disbursements for Q4 FY24 rose 18 percent year-on-year to Rs 24,784 crore, compared to Rs 21,020 crore in the corresponding period of the previous year.
Chola's assets under management (AUM) as of March 31, 2024, stood at Rs 1.53 lakh crore, marking a 36 percent year-on-year growth.
On the asset quality front, the company showed improvement with gross Stage 3 assets declining to 2.48 percent, down from 3.36 percent a year ago.
This was accompanied by a provision coverage ratio of 46.5 percent. Cholamandalam also announced plans to foray into the gold loan business, further diversifying its portfolio.
Also read: Reliance Industries Q4 Results Live
The move is expected to strengthen its retail lending offerings and leverage its widespread branch network across rural and semi-urban India, the company's filing said.
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