Cholamandalam Investment and Finance Co reports Q2 PBT of Rs 596 crore
Cholamandalam Investment and Finance Company, the financial services arm of Murugappa Group, on Saturday reported profit before tax at Rs 596 crore in the quarter ended September as against Rs 491 crore in the year-ago period.
- Country:
- India
Cholamandalam Investment and Finance Company, the financial services arm of Murugappa Group, on Saturday reported profit before tax at Rs 596 crore in the quarter ended September as against Rs 491 crore in the year-ago period. The company disbursed Rs 7,381 crore in Q2 FY20 as against Rs 6,899 crore in Q2 FY19, marking a growth of 7 per cent.
On the other hand, Cholamandalam MS General Insurance Company registered a gross written premium of Rs 1,192 crore as against Rs 1,103 crore. Profit before tax was at Rs 69 crore as against Rs33 crore. Meanwhile, Cholamandalam MS Risk Services Ltd clocked a revenue of Rs 12 crore in Q2 FY20 as against Rs 10 crore in Q2 FY19.
The group recognised additional tax expense of Rs 118.8 crore for the quarter, it said in a statement. Founded in 1900, the Rs 36,893 crore Murugappa Group is one of India's leading business conglomerates with 28 businesses and a workforce of over 50,000 employees.
(ANI)
ALSO READ
-
Japanese Lawmakers Visit India to See Worker Protection and Skills Projects in Action
-
Indian Unions Push for Fair Recruitment and Rights for Care Workers in Germany
-
Cleaner Kitchens, Polluted Skies: Hidden Health Cost of India’s Electricity Boom
-
Japan-Backed ILO Projects Help 23,000 Workers Gain Rights and Fight Child Labour
-
India's Delicate Balancing Act: Navigating Energy Security Amid Middle Eastern Tensions
Google News