Cholamandalam Investment and Finance reports Q1 PAT at Rs 942 cr, up 29.7%

Chennai: Cholamandalam Investment and Finance Company has reported a 29.7 per cent growth in its profit after tax for the April-June 2024 quarter at Rs 942 crore.

The company, which is the financial services arm of diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 726 crore in the corresponding quarter of last year.

Total income during the quarter under review grew by 40.9 per cent to Rs 5,828 crore, from Rs 4,134 crore registered in the corresponding quarter of last year.

Disbursements made during the quarter ending June 30, 2024, grew by 22 per cent to Rs 24,332 crore, as compared to Rs 20,015 crore registered in the same period of last year.

Assets under management during the quarter under review rose to Rs 1,68,832 crore, from Rs 1,22,755 crore registered in the same period of last year.

In a statement issued on Friday, the company said it continues to hold a strong liquidity position of Rs 14,767 crore as a cash balance as of the end of June 2024. The Capital Adequacy Ratio (CAR) of the company as of June 30, 2024, was at 18.03 per cent as against the regulatory requirement of 15 per cent.

Tier I Capital was at 14.76 per cent (Common Equity Tier-I Capital) at 13.63 per cent as against a regulatory minimum of 9 per cent) and Tier II Capital was at 3.27 per cent, the statement said.