Cholamandalam Financial Holdings records Q2 standalone profit at Rs 22.23 crore

Cholamandalam

Cholamandalam Financial Holdings Ltd has reported standalone profit for the quarter ending September 30, 2022 at Rs 22.23 crore, the company said on Tuesday.

The city-based Murugappa Group company had registered standalone net at Rs 21.42 crore during corresponding quarter previous year.

For the six-month period ending December 31, 2022, the standalone profit marginally went up to Rs 21.97 crore from Rs 20.49 crore registered in the same period of last year.

Total income on standalone basis during the quarter under review remained flat at Rs 28.52 crore as against Rs 28.27 crore registered in same period of last year.

For the half year ending September 30, 2022, the standalone total income stood at Rs 30.62 crore as against Rs 30.39 crore registered in same period of last fiscal.

Cholamandalam Investment and Finance company Ltd in which the company holds 45.38 per cent stake disbursed Rs 14,623 crore during the quarter ending September 30, 2022 as against Rs 8,706 crore recorded same period of previous year.

Assets under management grew to Rs 91,841 crore as at September 30, 2022 as compared to Rs 75,063 crore registered at September 30, 2021.

Cholamandalam MS General Insurance Company Ltd, a subsidiary in general insurance business, registered a gross written premium of Rs 1,534 crore during the quarter ending September 30, 2022 as against Rs 1,303 crore registered in same period of last year.

The company registered a gross written premium of Rs 2,918 crore during the half year ending September 30, 2022 as against Rs 2,300 crore registered in the corresponding period of the previous year.

Cholamandalam MS Risk Services Ltd, a joint venture company registered total income of Rs 16.25 crore for the quarter ending September 30, 2022 as against Rs 13.53 crore recorded in the corresponding quarter of previous year, the release said.