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Cholamandalam Investment and Finance Company posted a 24 per cent growth in standalone net profit at ₹853 crore for the fourth quarter, aided by a strong growth in disbursals and collections. The Murugappa Group company posted a standalone net profit of ₹690 crore for the same quarter of FY22.
Total standalone revenue from operations, on a year-on-year basis, grew 43 per cent to ₹3,701 crore (₹2,580 crore) during the March 2023 quarter.
Cholamandalam Investment said it had best-ever disbursals, collections, and profitability in Q4FY23. Disbursements jumped 65 per cent yoy to ₹21,020 crore (₹12,718 crore).
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It said it has gained market share across the product segment in vehicle finance and other business units.
Cholamandalam Investment’s total assets under management grew 36 per cent to ₹112,782 crore (₹82,904 crore) in FY23.
Full-year number
For the full year, the company’s net profit went up by 24 per cent to ₹2,666 crore (₹2,147 crore).
The Board of Directors recommended a final dividend of ₹0.70 per share subject to the approval of the members of the company at the ensuing Annual General Meeting.
On the NSE, shares of Cholamandalam Investment closed at ₹885.50 apiece on Wednesday, 1.23 per cent higher than Tuesday’s closing price.
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