Cholamandalam Investment & Finance Q3FY16 standalone net profit rises 31% yoy at Rs. 146 crore : In-line with estimates

The company’s Net Interest Income (NII) stood at Rs. 542.91 crore, clocking growth of 16.79% yoy and 7.22% qoq

Jan 29, 2016 12:01 IST India Infoline News Service

Cholamandalam Investment
Cholamandalam Investment & Finance, Indian financial services company dealing in fixed deposits, reported standalone net profit of Rs. 145.70 crore for the quarter ended December 31, 2015, registering growth of 30.91% yoy and 20.94% qoq. The company’s Net Interest Income (NII) stood at Rs. 542.91 crore, clocking growth of 16.79% yoy and 7.22% qoq.

For nine months ended December 31, 2015, the company reported standalone net profit of Rs. 376.42 crore, up 25.67% yoy. It’s standalone NII stood at Rs. 1,539.28 crore, registering growth of 20.40% yoy.

On consolidated basis, net profit for the quarter stood at Rs. 148.03 crore, rising  31.24% yoy and 21.60% qoq. The company's total Income stood at Rs. 1,060 crore, clocking growth of 9.24% yoy and 3.64% qoq.

For nine months ended December 31, 2015, the company  reported consolidated net profit of Rs. 380.86 crore, increasing 23.82% yoy. It's total income for the period stood at Rs. 3,073.22 crore, registering growth of 10.90% yoy. 

Result Highlights : (Rs. In crore)
Result Reported  IIFL Estimates  Variance % 
Standalone Revenue  543 551 (1.48)
Standalone Net Profit  146 141 3.04

Standalone EPS for the quarter stood at Rs. 9.33.

Bloomberg estimated the bank's net profit at Rs. 132.72crore for the quarter. 

Corporate Action :

The Board of Directors of the Company at its meeting held on January 29, 2016, inter alia, has approved the following:

1. Payment of an interim dividend on the equity shares of the Company at the rate of 25% being Rs. 2.50 per equity share of Rs. 10/- each for the year ending March 31, 2016.

2. Issue of Non-convertible Debentures:

- Issue of 60,000 secured Redeemable, Non-Convertible Debentures of a face value of Rs. 10 lakhs each at par aggregating to Rs. 6,000 crores in one or more tranches on private placement basis.

- Issue of 6,000 unsecured Redeemable, Non-Convertible Debentures in the nature of subordinated debt of a face value of Rs. 10 lakhs each at par aggregating to Rs. 600 crores in one or more series on private placement basis and

- Issue of 1,000 unsecured Redeemable, Non-Convertible Debentures in the nature of perpetual debt of a face value of Rs. 10 lacs each at par aggregating to Rs. 100 crores in one or more series on private placement basis.

Stock Commentary:
Cholamandalam Investment & Finance Company Ltd ended at Rs. 635.25, up by Rs. 8.3 or 1.32% from its previous closing of Rs. 626.95 on the BSE.
The scrip opened at Rs. 625 and touched a high and low of Rs. 640 and Rs. 622.9 respectively. A total of 42224(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 9787.27 crore.
The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 739 on 07-Jul-2015 and a 52 week low of Rs. 516.3 on 28-Jan-2015. Last one week high and low of the scrip stood at Rs. 640 and Rs. 600.25 respectively.
The promoters holding in the company stood at 53.15 % while Institutions and Non-Institutions held 40.4 % and 6.45 % respectively.
The stock traded below its 50 DMA.

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