Cholamandalam Investment and Finance reports standalone Q4 profit at Rs 852

Cholamandalam Investment and Finance reports standalone Q4 profit at Rs 852.84 cr

Cholamandalam Investment and Finance Company Ltd has reported a standalone profit for the quarter ending March 31, 2023 at Rs 852.84 crore, the company said on Wednesday. The city-based Murugappa Group firm had registered Rs 689.58 crore during the corresponding quarter of the previous year.For the year ending March 31, 2023, the standalone profit grew to RS 2,666.20 crore from Rs 2,146.71 crore registered in the corresponding quarter of last financial year.

The standalone total income for the quarter ending March 31, 2023, went up to Rs 3,794.26 crore from Rs 2,631.75 crore registered in the same quarter of last year. For the financial year ending March 31, 2023, the standalone total income grew to Rs 12,977.98 crore from Rs 10,138.77 crore registered in the same period last year.In a statement, the company said the disbursements during the quarter ending March 31, 2023 grew by 65 per cent to Rs 21,020 crore while for the year ending March 31, 2023 it grew to Rs 66,532 crore upby 87 per cent over same period of last year.

The Board of Directors has recommended a final dividend of Rs 0.70 per share (35 per cent) on the equity shares of the company subject to approval of the members. On the company’s maiden public NCD issue, the company said, “our maiden public issue of secured, rated, redeemable NCDs for which the prospectus was filed in Q4 of FY23 amounting to Rs 1,000 crore was oversubscribed by 2.6 times within the first three days of the issue.” As on March 31, 2023 the Capital Adequacy Ratio was at 17.13 per cent as against the regulatory requirement of 15 per cent. Tier I capital was at 14.78 per cent and Tier II Capital was at 2.35 per cent, the statement said.