Cholamandalam Investment and Finance Co. Ltd., (CIFCL) reported standalone net profit for the June quarter rose 30% from the year-earlier period to ₹942 crore.
Total revenue from operations increased to ₹5,785 crore from ₹4,063 crore. Net income grew by 43% to ₹3,033 crore. Net interest margin rose to 7.6% (7.3%)
Assets under management increased 38% and stood at ₹1,68,832 crore, CIFCL said in a statement.
Aggregate disbursements grew 22% to ₹24,332 crore, of which vehicle finance accounted for ₹12,766 crore (up 13%), loan against property ₹3,874 crore (up 45%), and home loan ₹1,778 crore up 22%).
Small and medium enterprises loans grew 6% to ₹2,160 crore, consumer and small enterprise loans ₹3,486 crore (up 48%) and secured business and personal loan ₹268 crore (up 48%).
Gross non-performing asset contracted to 3.62% from 4.30%, while net NPA degrew to 2.37% from 2.82%.
CIFCL continues to hold a strong liquidity position with ₹14,324 crore as cash balance. The capital adequacy ratio was 18.03%. Provision coverage ratio improved to 45.50% from 45.40%.
The board on Friday gave approval for issue of secured and/or unsecured non-convertible debentures aggregating to ₹48,000 crore in one or more tranches.
The board announced that it had promoted Executive Director Ravindra Kumar Kundu as Managing Director for a period of five years from October 7.
