Cholamandalam Investment & Finance Company Ltd (CIFCL) has reported a 31 per cent growth in net profit for the December 2022 quarter. Its total asset under management crossed one lakh crore for the first time. The board declared an interim dividend of 65 per cent being ₹1.30 per share on the equity shares of the Company, for FY23.
The Murugappa Group’s NBFC has posted a profit after tax at ₹684 crore for the quarter ended December 31, 2022 as compared with ₹524 crore in the year-ago period.
Its total income grew 32 per cent at ₹3,375 crore (₹2,547 crore), while net income rose 22 per cent at ₹1,832 crore (₹1,501 crore).
The aggregate disbursements reported a 68 per cent growth at ₹17,559 crore as against ₹10,430 crore.
In the vehicle finance business, disbursements grew 37 per cent to ₹10,446 crore (₹7,647 crore in Q3 of the previous fiscal). Loan-against-property business disbursed ₹2,255 crore as against ₹1,661 crore in the year-ago quarter, an increase of 36 per cent. Home loan (affordable home loan and affordable LAP) disbursements almost doubled to ₹1,072 crore (from ₹539 crore).
As per revised RBI norms gross NPA and net NPA stood at 5.37 per cent and 3.69 per cent respectively as of December 2022.
Its AUM grew 31 per cent to ₹1,03,789 crore (₹79,161 crore in the year-ago quarter).
The company’s stock closed 0.25 per cent lower at ₹709 per share on NSE.
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