Cholamandalam Investment and Finance Company today, announced a 12% increase in its net profit to Rs. 163 crores, during the third quarter (Q3) for the financial year 2016 – 2017. The company had reported a net profit of Rs. 148 crores during the same quarter (Q3), last year (2015 – 2016). Read more on Profits
“Total income has increased to Rs. 1,184.44 crores for the quarter that ended on December 31, 2016, from Rs. 1,060.09 crores for the same quarter a year ago”, the company said in a regulatory filing.
The company’s disbursements increased by 3 every year to Rs. 4,373 crores during October –December period of 2016 – 17. It disbursed Rs. 3,491 crores for vehicle financing this quarter, whereas it had disbursed only Rs. 3,245 crores during the December quarter of 2015 – 16.
“This was possible on account of steady growth in heavy commercial vehicle volumes and in car/MUV segment during October 2016. Home equity disbursements of the company are at Rs. 619 crores in the third quarter of 2016-17 as opposed to Rs. 882 crores during the same quarter, a year ago”, the company said in a statement.
The company declared an interim dividend of 35 per cent of Rs 3.50 per equity share for this quarter. The net income margin for this quarter is 8.4%, which is marginally lower when compared to last year’s net income margin of 8.77%. The company said it was able to exit the quarter at a gross non-performing asset (GNPA) level of 3.8% which is which is slightly higher than its GNPA at the end of September, 2016 (3.5%). Read more on Startup News
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