Cholamandalam Investment and Finance Limited announced its results for the quarter ended December 2021. The company reported a net profit of Rs 524 crore for the quarter ended December 2021, as against Rs 409 crore for the previous corresponding quarter, showing an upside of 28% YoY. Company’s PAT for the 9M period ended December 2021 was Rs 1,457 crore, registering a growth of 15% YoY since the corresponding 9M period.
The company’s disbursements for the quarter stood at Rs 10,430 crore showing an increase of 32% YoY, while disbursements for the 9M period ended December 2021 stood at Rs 22,772 crore, up by 27% YoY.
Its total AUM reported a marginal growth of 4% YoY at Rs 79,161 crore for Q3 FY’22.
Cholamandalam’s Net Income Margin stood at Rs 1484 crore for Q3 FY’22, reflecting a growth of 9% YoY. While Net Income margin for the 9M period ended December 2021 closed at Rs 4,240 crore, up by 18% YoY.
Company’s economic activities improved marginally, including for contact-intensive service industries that were hit hard by the pandemic. Increased demand and good monsoon have supported the easy revival of India’s economy in Q3 FY’22. Overall improvement in financial indicators has contributed to a sharp recovery in Chola’s disbursements and collection during the September-December 2021 quarter. The company has launched three new business divisions during the quarter namely, Secured Business & Personal Loan, Consumer & Small Enterprise loan, & SME Loan.
Company has also agreed to make a strategic investment in the equity shares of Payswiff Technologies Private Limited (Payswiff) up to a sum of Rs 450 crore, holding about 72% equity capital of Payswiff on a fully diluted basis.
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