Chola IFC Q2 net at Rs 26 cr

Cholamandalam Investment and Finance Company Ltd has reported a net profit of Rs 26.25 crore during the quarter ended September 30, as compared to a net loss of Rs 28.03 crore, a year ago. Its totaldisbursements rose by 52.5 per cent to Rs 1,332 crore from Rs 873 crore, with Rs 1,032.34 crore for vehicle finance.

New CMD for IOB

Mairpady Naren-dra, currently executive director of Bank of India, is set to take over as the new chairman and managing director of Indian Overseas Bank on November 1. As the ED of Bank of India since 2008, he was slso the nomi-nee director on the Board of Indo Zambia Bank Ltd.