Cholamandalam Investment & Finance Q2 net profit up 50% led by HCV segment

The company is expecting NHB's approval for its housing finance subsidiary in the next two to three months

Cholamandalam Investment and Finance Company Ltd, a part of the Murugappa Group, has posted a growth of 49.5 per cent in net profit during the quarter ended September 30, 2018, to Rs 3.05 billion, as compared to Rs 2.04 billion during the same quarter of the last year.    

The total income stood at Rs 16.75 billion during the quarter as against Rs 13.50 billion in the corresponding quarter a year ago.

"In the first quarter, the growth rate was predominantly led by heavy commercial vehicles, which has continued in the second quarter. However, in the second quarter, we have also