Cholamandalam Investment profit rises 5.6 pc in Q4

Cholamandalam Investment and Finance Company today reported a 5.6 per cent increase in consolidated net profit at Rs 92.36 crore for the quarter ending March 31, 2013.

The Chennai-based company had reported a consolidated net profit of Rs 87.41 crore for the corresponding period of previous year, Cholamandalam Investment and Finance Company said in a BSE filing.

Consolidated income from operations for the fourth quarter ending March 31, 2014, rose to Rs 844.03 crore from Rs 723.82 crore registered during the same period of previous year.

The Board of Directors have recommended a final dividend of 10 per cent for the year ending March 31, 2014, it said.

The company said for the fourth quarter, disbursements in vehicle finance were marginally lower while disbursements in home equity loans grew by 23 per cent compared to the same period of previous year.

The company disbursed Rs 2,795 crore in vehicle finance as against Rs 3,140 crore registered durng the corresponding quarter of previous year.

In home equity loans the company disbursed Rs 785 crore as against Rs 638 crore registered during the same period of previous year.

"The aggregate disbursements for the quarter ending March 31, 2014 slipped to Rs 3,673 crore as against Rs 3,808 crore registered during the same period of previous year", it said.

For the year ending March 31, 2014, the consolidated net profit of the Murugappa Group company grew by 19.6 per cent to Rs 368.28 crore from Rs 307.91 crore registered during the corresponding period of previous year.

For the financial year ending March 31, 2014 the consolidated income from operations stood at Rs 3,248.99 crore as against Rs 2,534.61 crore registered during the same period of previous year.

For the financial year ending March 31, 2014 the company disbursed vehicle finance of Rs 10,128 crore as against Rs 9,882 crore registered in corresponding period of previous year, it said.

In home equity loans the company disbursed Rs 2,810 crore for the year ending March 31, 2014 as against Rs 2,161 crore registered during the same period of previous year.

The company raised TierII capital of Rs 328 crore during the financial year 2013-14 by way of subordinated debt and perpetual debt instruments to strengthen its capital adequacy ratio, it said.

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