Cholamandalam Investment & Finance Company Ltd's Q2FY19 standalone net profit rises 49.5% yoy to Rs305cr : In-line with Estimates

The company’s standalone NII stood at Rs812cr, up 17% yoy and 2.11% qoq.

Oct 30, 2018 06:10 IST India Infoline Research Team

Cholamandalam Investment & Finance Company Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
NII 812 17
Net Profit (adjusted) 305 49.5

Cholamandalam Investment and Finance Company's Q2FY19 revenue has improved by 24% yoy to Rs1,676cr. Its NII for the quarter came at Rs812cr as against Rs694cr, which has improved by 17% yoy. Its net profit was in-line with our estimates, which came at Rs305cr against Rs204cr yoy, registering a growth of 49.5% yoy. Its GNPA has declined by 20 bps to 3.4%

  • Aggregate disbursements for the quarter were at ~Rs6,899cr as against ~Rs5,492cr in Q2 of FY18, registering a growth of 34% yoy, riding on the growth in CV industry.
  • Vehicle Finance business disbursed ~ Rs5,542cr as against ~Rs4,295cr in Q2 of FY18, clocking a growth of 38% yoy. HCV and LCV continued to show strong growth, complemented by used vehicles.
  • Home Equity business disbursed ~Rs910cr as against ~Rs830cr in Q2FY18, registering a growth of 18% yoy.
  • Assets under management grew by 31% for Q2FY19 at Rs47,720cr compared to the corresponding period last year, which stood at Rs36,456cr.
  • The capital adequacy ratio for the quarter was a t 18.34%.
  • Its PCR for the quarter stood at 36.8%.

Technical View:

Cholamandalam Investment & Finance Company Ltd ended at Rs. 1,245.95, down by 21.6 points or 1.7% from its previous closing of Rs. 1,267.55 on the BSE.
The scrip opened at Rs. 1,250.20 and touched a high and low of Rs. 1,286.80 and Rs. 1,236.80 respectively. A total of 3,73,165 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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