Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
indian rupee
November 1, 2021

Cholamandalam Investment, Finance Reports Q2 Profit At Rs 606.54 Cr

Urvi Srivastava Credit & Capital asset management, cholamandalam, profit

The assets under management as of September 30, 2021, stood at Rs 75,063 crore as compared to Rs 74,471 crore as of the end of September in FY 2021.

Cholamandalam Investment and Finance Company has recorded a standalone profit at Rs 606.54 crore for the quarter ending September 30, 2021, the company said on Saturday.

The city-based had reported standalone net at Rs 431.91 crore during the corresponding quarter previous year. For the six-month period ending September 30, 2021, standalone profit surged to Rs 933.34 crore from Rs 862.84 crore registered in the corresponding period last year.

Standalone total income for the quarter under review grew to Rs 2,470.69 crore from Rs 2,439.78 crore registered in the same period last fiscal. Total income on a standalone basis for the half-year ending September 30, 2021, stood at Rs 4,937.70 crore as against Rs 4,553.43 crore registered in the same period last fiscal.

In a statement, the company said the quarter under review had several positives including the waning of Covid-19 second wave, increased vaccination drive, and a good monsoon.

“These expectations have been supported by the uptrend in economic indicators like tax collections, power consumption, vehicle registrations, highway toll collection.”, it said.

The economic revival has led to a sharp recovery in Chola’s disbursements and collections during FY2021-22.

“We continue to hold management and additional overlay provisions at Rs 700 crore. Apart from this, we have created 10 per cent additional provision for all restructured accounts as per RBI guidelines,” it added.

Aggregate disbursements in Q2 FY 22 were at Rs 8,706 crore as against Rs 6,457 crore in Q2 of FY 2021 with a growth of 35 per cent. Vehicle finance disbursements were at Rs 6,161 crore in Q2 FY 22 as against Rs 4,781 crore in Q2, FY 2021, with a growth of 29 per cent. Loan against property business disbursed Rs 1,736 crore in Q2FY 22, as against Rs 1,052 crore in Q2 FY 2021.Home loan business disbursed at Rs 494 crore in Q2 FY 22 as against Rs 381 crore in Q2 FY 2021.

The assets under management as of September 30, 2021 stood at Rs 75,063 crore as compared to Rs 74,471 crore as of end September in FY 2021.

“The company continues to hold a strong liquidity position with Rs 5,401 crore as cash balance at end of September 2021 including Rs 1,500 crore invested, with a total liquidity position of Rs 9,800 crore.

The Capital Adequacy Ratio of the company as on September 30, 2021 was at 19.63 per cent as against the regulatory requirement of 15 per cent, the statement said.

(PTI)

Urvi Shrivastav

→ Urvi Shrivastav

Sebi Warns Vedanta On Related-Party Transactions Of Rs 1,407 Cr Power Ministry Recommends Amendments In EC Act To Enhance Renewable Energy Use

Related Posts

Chandrasekar-K-1

Credit & Capital, Economic Trends

Leading with empathy is the correct mantra for success

20220331_113353

Credit & Capital, Economic Trends

Govt orders probe into fire incident involving Ola

indian rupee

Credit & Capital, Economic Trends

Asian stocks rise as Ukraine peace talks appear to progress

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • Chandrasekar-K-1Leading with empathy is the correct mantra for success

    Read more

  • 20220331_113353Govt orders probe into fire incident involving Ola

    Read more

  • indian rupeeAsian stocks rise as Ukraine peace talks appear to progress

    Read more

  • economyTata Coffee rallies nearly 13 pc; Tata Consumer jumps over 5 pc

    Read more

  • rupeeRupee rises 4 paise to 75.69 against US dollar in early trade

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.