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Cholamandalam Investment and Finance Company Ltd Q1 PAT jumps to Rs. 207 crores

Posted On: 2017-07-27 20:18:36

The Board of Directors of Cholamandalam Investment and Finance Company Limited today approved its un-audited Financial Results for the first quarter ended 30th June 2017.

- Profit after tax for Q1 FY18 - Rs. 207 Cr - growth of 25% over Q1 FY17.
- Q1 FY18 profit before tax is - Rs. 318 Cr - growth of 25% over Q1 FY17.
- Managed closing assets is Rs. 36,079 Cr - growth of 14% over Q1 of FY17.
- Net Interest Margin (NIM) was at 8% as compared to 7.1% in Q1 FY17.
- Gross NPA and NNPA (on 3 months' overdue basis) is at 4.7% and 3.2% respectively - the same levels as last quarter.

We disbursed Rs. 3,819 Cr in our Vehicle Finance business as against Rs. 3,326 Cr. in Q1 of FY17, recording a growth of 15%. Home Equity disbursements were at Rs. 740 Cr in Q1 FY18 as against Rs. 991 Cr in Q1 FY17. Chola's aggregate disbursements for the quarter were Rs. 4,853 Cr as against Rs. 4,561 Cr in Q1 of FY17.

Chola's Net Interest Margin (NIM) was 8.0% for the quarter, compared to 7.1% in the same quarter of last year.

We continue our enhanced focus on collections. The company was able to ride out the traditionally difficult first quarter, by restricting the GNPA at 4.7% (at 3 months' overdue) and NNPA at 3.2% and maintaining the same levels as of March FY17.

Chola's PBT-ROTA for Q1 FY18 improved to 4.4% as against 3.8% in Q1 FY17.

The capital adequacy ratio (CAR) of the company was at 19.37% as against the regulatory requirement of 15% with Tier I capital at 14.27% and Tier II capital at 5.10%.

The subsidiaries Cholamandalam Securities Limited (CSEC), Cholamandalam Distribution Services Limited (CDSL) and White Data Systems India Private Limited (WDSI) together made a profit before tax of Rs. 1.04 Cr in Q1 FY18, as against Rs. 2.05 Cr in the same quarter last year.

The consolidated profit after tax for Q1 is Rs. 207 Cr. as against Rs. 167 Cr. in Q1 of FY17, registering a growth of 24%.

Shares of Cholamandalam Investment and Finance Company Ltd was last trading in BSE at Rs.1175.45 as compared to the previous close of Rs. 1144.65. The total number of shares traded during the day was 65641 in over 4408 trades.

The stock hit an intraday high of Rs. 1212.95 and intraday low of 1154.3. The net turnover during the day was Rs. 77591717.


Source: Equity Bulls

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