Cholamandalam Investment consolidated Q2 net up 36.2 per cent

Cholamandalam Investment and Finance Company Ltd today reported a 36.2 per cent rise in second quarter consolidated net profits ending September 30, 2017, to Rs 228 crore.
The city-based company had registered consolidated net profits at Rs 167.34 crore during same period of last year.
For the six month period ending September 30, 2017, the consolidated net profits were at Rs 434.99 crore from Rs 334.43 crore registered during year ago period, a company statement said.
The consolidated total revenue for the July-September 2017 period stood at Rs 1,312.94 crore from Rs 1,172.81 crore registered during same period of last year.

For the six month period ending September 30, 2017, the consolidated total revenue went upto Rs 2,559.86 crore from Rs 2,287.91 crore registered during year ago period.
During the quarter ending September 30, 2017, the aggregate disbursements were at Rs 5,492 crore as against Rs 4,444 crore registered during same period of last year.

Disbursements in vehicle finance business stood at Rs 4,295 crore during the July-September 2017 period as compared to Rs 3,247 crore registered during corresponding period of last year.
"This was achieved through strong growth in heavy and mini-light commercial vehicle volumes and used vehciles", the statement said.

The total assets under management grew to Rs 37,450 crore during the quarter ending September 30, 2017 from Rs 33,180 crore registered during same period of last year.
Cholamandalam Investment and Finance Company Ltd is the financial services arm of the diversified business conglomerate Murugappa Group. The company has 725 branches across the country, the statement added.