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Cholamandalam’s consolidated PAT for Q1 rose to Rs 330.02 cr
Business

Cholamandalam’s consolidated PAT for Q1 rose to Rs 330.02 cr

Agency News

Chennai, Aug 12 (UNI) The Board of Directors of Cholamandalam Financial Holdings Limited (CFHL) met today and approved the financial results for the Quarter ended June 30, 2019, with the company achieving a consolidated Profit after tax of Rs 330.02 crore as against Rs.314.04 crore last year. Cholamandalam Investment & Finance Company Limited in which the Company holds 46.5 per cent stake, disbursed Rs. 8,572 crore during the quarter compared to Rs 7,014 crore in the same period of previous year, a growth of 22 per cent.

Profit after tax for the quarter ended was at Rs 314 crore as against Rs 285 crore last year, a growth of 10 per cent. Assets under management grew by 35 per cent to Rs. 62,827 crore as compared to Rs 46,709 crore in Q1 FY19. Cholamandalam MS General Insurance Company Limited, a subsidiary in general insurance business, in which the company holds about 60 per cent stake, registered a Gross Written Premium (GWP) of Rs 1,197 crore during the quarter as against Rs 951 crore in Q1 FY19, a growth of 26 per cent. Profit after tax for the quarter ended stood at Rs 22.42 crore as against Rs 30.28 crore in Q1 FY19.

Cholamandalam MS Risk Services Ltd., a Joint Venture Company, in which the Company holds 49.5 per cent stake, registered revenue of Rs 8.32 crore for the quarter as against Rs 7.27 crore in Q1 FY19. The Profit after tax for the quarter ended was at Rs 2.56 crore as against a Profit of Rs 2.43 crore in Q1 FY19, a growth of five per cent.UNI