Cholamandalam Financial logs Rs 696 crore net profit

Murugappa Group's Cholamandalam Financial Holdings Ltd on Friday said it closed the last fiscal with a net profit of Rs 696.70 crore, an increase of 27 per cent over previous fiscal numbers.

In a statement issued here, the company said it has posted a consolidated profit after tax (net of non-controlling interest) of Rs 696.70 crore, up from Rs 549.91 crore logged during 2017-18.

Cholamandalam Investment & Finance Company Ltd, in which the company holds 46.39 per cent stake, disbursed Rs 30,451 crore during the year ended March 31, 2019 compared to Rs 25,114 crore in the previous year.

Profit after tax for the year was at Rs 1,186 crore as compared to Rs 918 crore in FY18.

Cholamandalam MS General Insurance Company Ltd, a subsidiary in general insurance business, in which the Cholamandalam Financial Holdings holds about 60 per cent stake, registered a Gross Written Premium (GWP) of Rs 4,552 crore during the year as against Rs 4,113 crore in FY18.

Profit after tax for the year was at Rs 198.20 crore as against Rs 204.09 crore in FY18.

Cholamandalam MS Risk Services Ltd, a joint venture company in which the holding company holds 49.5 per cent stake, registered a revenue of Rs 40.72 crore for the year as against Rs 56.28 crore in FY18. Profit after tax for the year was at Rs 3.52 crore as against Rs 2.78 crore in FY18.

--IANS

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