Chola Investment Finance Q1 net up 73% to ₹566 cr.

CHENNAI: Cholamandalam Investment and Finance Co. Ltd, (CIFCL), a Murugappa group firm, has reported 73% increase in its standalone net profit for the first quarter ended June 22 to ₹566 crore.

Total revenue from operations up 12% to ₹2,770 crore from ₹2,481 crore, it said in a regulatory filing.

During the period disbursement was up by 267% to ₹13,329 crore, total AUM up 14% to ₹86,703 crore and Net Income Margin up 19% to ₹1,640 crore.

Vehicle finance disbursements grew to ₹8,562 crore from ₹2,846 crore, Loan Against Property business disbursed ₹2,169 crore (₹386 crore), while home loan business disbursed ₹478 crore against ₹199 crore.

Small and Medium Enterprises Loan business disbursed ₹1,030 crore against ₹204 crore. New businesses Consumer and Small Enterprise Loans and Secured Business and Personal Loans (SBPL) had registered disbursements of ₹1,055 crore and ₹36 crore respectively.

CIFCL had a capital adequacy ratio of 19.15%, with Tier-I Capital accounting for 16.3%.

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