Cholamandalam Investment Reports Robust Q1 Growth in Profit and Revenue

Cholamandalam Investment and Finance Company reported a significant 29.7% increase in profit after tax for Q1 2024, reaching Rs 942 crore. Total income grew by 40.9%, while disbursements and assets under management saw considerable growth. The company maintains a strong liquidity position and robust capital adequacy ratios.

Cholamandalam Investment and Finance Company has announced a notable 29.7 per cent surge in its profit after tax for the first quarter of the 2024 financial year, amounting to Rs 942 crore. This represents an impressive rise from Rs 726 crore reported for the same period last year.

The financial services arm of the diversified Murugappa Group also saw its total income for the quarter increase by 40.9 per cent to Rs 5,828 crore, compared to Rs 4,134 crore in last year's corresponding quarter. Disbursements for the April-June 2024 period grew by 22 per cent to Rs 24,332 crore.

Assets under management during the quarter rose to Rs 1,68,832 crore, up from Rs 1,22,755 crore during the same period last year. The firm's liquidity position remains strong with Rs 14,767 crore in cash as of June 2024. The company's Capital Adequacy Ratio (CAR) stood at 18.03 per cent, well above the regulatory requirement of 15 per cent.