Cholamandalam Investment net up by 21 % in Q3

Cholamandalam Investment and Finance Company Limited has reported a 21% growth in net profit at Rs 111 crore as against Rs 92 crore, during the same period last year. Total income rose by 14% to Rs 965 crore from Rs 844 crore, a year ago.

D Arul Selvan, chief financial officer, Cholamandalam Investment and Finance Company Ltd said that since money market was stable, the company has leveraged it and cost of funds reduced by 0.3%. For a company which has books size of Rs 19,000 crore it is significant.

The NBFC arm of Murugappa Group also saw improvement in NIM. However saw a eight% drop in disbursements. The aggregate disbursements of the Company for the quarter was at Rs 3,082 crore as against Rs 3,336 crore, a year ago.

Company's overall GNPA stood at 2.8% and the NNPA is at 1.5% as on December 31, 2014.