TI Financial Holdings Ltd., formerly known as Tube Investments of India, posted an 84% rise in its standalone net profit for the second quarter ended September 2017 at ₹24.84 crore compared with the year-earlier period. Total income rose 79% to ₹26.22 crore.
Separately, Cholamandalam Investment & Finance Co. Ltd. recorded a 24% rise in disbursements at ₹5,492 crore. Net profit grew 36% to ₹228 crore. Assets under management grew 13%. Cholamandalam MS General Insurance Co. Ltd. registered a 55% growth in Gross Written Premium to ₹1,277 crore. Net profit rose 28.8% ₹67 crore.
Cholamandalam MS Risk Services Ltd. recorded a 62% rise in revenue to ₹12.15 crore, while net profit stood at ₹1.75 crore against a loss of ₹1.54 crore a year earlier.
It plans to foray into health insurance, through a new subsidiary, Cholamandalam Health Insurance Ltd. Chola Health will seek the approval of IRDA for a licence, a release said.
