Cholamandalam Financial Holdings posts consolidated Q3 PAT at Rs 1,027 cr

Chennai: Cholamandalam Financial Holdings Ltd has recorded a consolidated profit after tax of Rs 1,027 crore for the October-December 2023 quarter, the company said on Tuesday.

The city-headquartered company, part of the diversified conglomerate Murugappa Group, had registered a consolidated profit after tax at Rs 720.16 crore, during the corresponding quarter of last year.Total income for the quarter under review grew to Rs 6,842.03 crore, from Rs 4,776.75 crore registered year ago.

The consolidated profit after tax for the nine month period ended December 31, 2023 grew to Rs 2,706.81 crore, from Rs 1,908.85 crore registered in the same period of last year.

The consolidated total income for the nine month period ended December 31, 2023 surged to Rs 18,928.85 crore, from Rs 13,094.80 crore registered in the same period of last year.

Cholamandalam Investment and Finance Company Ltd, in which Cholamandalam Financial Holdings Ltd has 44.41 per cent stake, disbursed Rs 22,383 crore, during the quarter under review as compared to Rs 17,559 crore, registered in the same period of last year. Profit after tax for the quarter under review grew to Rs 876 crore, as compared to Rs 684 crore recorded in the corresponding quarter of the previous year.

Cholamandalam MS General Insurance Company Ltd, a subsidiary of Cholamandalam Financial Holdings Ltd, registered a Gross Written Premium of Rs 1,827 crore, during the quarter ended December 31, 2023 as against Rs 1,684 crore, registered in the corresponding quarter of the previous year. Cholamandalam MS General Insurance Company Ltd has an investment book of Rs 15,828 crore as of December 31, 2023.

Cholamandalam MS Risk Services Ltd registered a total income of Rs 17.57 crore, for the quarter ended December 31, 2023 as against Rs 15.90 crore, recorded in the corresponding quarter of last year.

The Profit After Tax for the quarter under review stood at Rs 1.24 crore, as against Rs 1.29 crore registered in the corresponding quarter of the last year.

Cholamandalam MS Risk Services Ltd is a joint venture between the Murugappa Group and Japan-based Mitsui Sumitomo Insurance Group.