Cholamandalam Investment & Finance Company (CIFCL) has reported an impressive performance for the fourth quarter and full-year of 2017-18, helped by significant growth in vehicle loan disbursements and a revival of growth in its home equity business.

“We did well on all fronts – disbursements grew significantly, collections improved and NPAs came down. Our provision coverage also moved up. Overall, we are happy over the Q4 performance,” N Srinivasan, Managing Director, told BusinessLine.

Its profit after grew 33 per cent at ₹291 crore for the quarter ended March 31, 2018, compared to ₹220 crore in the year-ago period.

The Murugappa Group firm’s total income grew 25 per cent at ₹1,512 crore (₹1,213 crore).

Its vehicle finance business recorded the highest disbursement volume during the quarter.

The company ended the March 2018 quarter with gross NPA (GNPA) of 2.94 per cent, down from 4.66 per cent in the year-ago period, and 3.7 per cent in the third quarter of 2017-18. Net NPA stood at 1.66 per cent compared to 3.19 per cent a year ago and 2.34 in the preceding quarter.

For the full year ended March 31, 2018, profit after tax grew 35.5 per cent at ₹ 974 crore (₹719 crore), while total income increased 16 per cent at ₹5,426 crore (₹4,660 crore).

Overall disbursements grew 35 per cent at ₹25,114 crore (₹18,591 crore). The vehicle financing business reported an increase of 42 per cent at ₹20,540 crore (₹14,471 crore).

Assets under management grew 25 per cent at ₹42,879 crore (₹43,167 crore in 2016-17)

The board declared a final dividend of 20 per cent (₹2 per share); the overall dividend for the year is ₹6.5 per share.

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