Cholamandalam PBT down 88% to Rs 57 cr on one-time provision of Rs 504 cr

Disbursements were down 36% in Q4 due to Covid-19 lockdown, due to which full-year disbursement dropped by 4%

Cholamandalam Investment and Finance Company Ltd, the financial services arm of Murugappa Group, has seen an 87.65 per cent decline in profit before tax of Rs 57.38 crore during the quarter ended March 31, 2020, from Rs 464.75 crore during the same quarter last year even as the company has made one-time provisions of Rs 504 crore towards Covid-19 and other factors. The firm's total income grew to Rs 2,151.45 crore during the quarter from Rs 1,885.34 crore during same period last year.

The company has made one-time provision of Rs 504 crore towards Covid-19 and macro provisions, due to which