TI Financial clocks standalone Q1 net profit of Rs 2.43 crore

: TI Financial Holdings, formerly Tube Investments of India Ltd, has recorded a standalone net profit of Rs 2.43 crore for the April-June quarter of the current financial year.

The city-based Murugappa Group company had recorded a net loss of Rs 0.34 crore during the same period last year.

For the year ending March 31, 2018, net profits stood at Rs 59.39 crore, the company said in a BSE filing.

Total income for the quarter ending June 30, 2018 was Rs 3.89 crore. For the year ending March 31, 2018 total income was at Rs 64.67 crore.

Cholamandalam Investment and Finance Company, in which TI Financial holds 46.2 per cent stake, disbursed loans of Rs 7,014 crore for the quarter ending June 30, 2018 as against Rs 4,853 crore registered in the same period of last year.

Cholamandalam MS General Insurance Company, a group entity of TI Financial Holdings, registered a Gross Written Premium (GWP) of Rs 951 crore for the quarter ending June 30, 2018 as against Rs 878 crore in the same period last year.

The Profit After Tax for Cholamandalam MS General Insurance Company was Rs 57 crore for the April-June 30 period this year compared to PAT of Rs 47 crore in the corresponding period last year.

The Cholamandalam MS Risk Services Ltd, in which TI Financial holds 49.5 per cent stake, recorded revenues of Rs 7.27 crore for the quarter ending June 30, 2018 as against Rs 7.54 crore registered during same period of previous year.

Shares of TI Financial Holdings ended at Rs 629 apiece, down by 1.64 per cent over previous close in BSE.