Cholamandalam Investment Q3 results: PAT rises 28% to Rs 876.16 crore

cholamandalam

Cholamandalam Investment and Finance Company on January 25 reported a 28.04 percent rise in its standalone net profit at Rs 876.16 crore in the third quarter of the financial year 2023-24.

On sequential basis, net profit was up 14.9 percent. This was on the back of better asset quality and increase in disbursements.

The gross non-performing assets (NPA) of the lender stood at 3.92 percent against 4.07 percent in a quarter ago period and 5.37 percent in the year-ago period.

Net NPA stood at 2.56 percent, against 2.59 percent in the previous quarter and 3.76 percent last year.

Aggregate disbursements in Q3FY24 were at Rs 22,383 crore as against Rs 17,559 crore in Q3FY23 with a growth of 27 percent. Disbursements for year-to-date (YTD) December 2023 were at Rs 63,940 crore as against Rs 45,512 crore in the previous year, registering a growth of 40 percent on-year.

Vehicle Finance (VF) disbursements were at Rs 12,354 crore in Q3FY24 as against Rs 10,446 crore in Q3FY23, registering a growth of 18 percent.

Consumer and Small Enterprise Loans (CSEL) disbursed Rs  2,773 crore in Q3FY24, as against Rs 1,868 crore in Q3FY23 registering a growth of 48 percent.

Assets under management as of December 31, 2023, stood at Rs 1.4 lakh crore as compared to Rs 1.04 lakh crore as of December 31, 2023, clocking a growth of 36 percent on-year.

The Capital Adequacy Ratio (CAR) of the company as of December 31, 2023, was at 19.37 percent as against the regulatory requirement of 15 percent. Tier-I Capital was at 15.55 percent and Tier-II Capital was at 3.82 percent.

The Board of Directors of the Company approved the payment of Interim dividend of 65 percent being Rs 1.3 per share on the equity shares of the Company, for the year ending March 31, 2024, release said.