Cholamandalam Investment & Finance Company Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
Net Profit (adjusted)
CIFC results were in line with the estimates. Total income yoy has gone up by ~15% yoy to Rs 1,172 cr. Growth in loan book has mainly contributed to the growth.
Asset under management stood at Rs 31,892 cr up by ~19% yoy
NII during the qtr came at Rs 593 cr against Rs 506 cr in corresponding qtr last year which is a growth of ~17% yoy. Growth in loan book has led to improved NII.
NIM’s you declined slightly by 10 bps to 8.4% in Q2FY17
Loan loss & provision for the qtr declined yoy ~29% yoy to ~Rs 82 cr.
GNPA declined by 10 bps qoq to 3.5% for the qtr. Following the 120 dpd policy led to surge in GNPA.
The net profit at ~Rs 168 cr is in line with estimates of ~Rs 169 cr and up by ~38% yoy mainly led by lower provisions, improved total income and better asset quality
Cholamandalam Investment & Finance Company Ltd ended at Rs. 1140.35, down by 11.6 points or 1.01% from its previous closing of Rs. 1151.95 on the BSE.
The scrip opened at Rs. 1165.5 and touched a high and low of Rs. 1165.5 and Rs. 1139.1 respectively. A total of 1991(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
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