Cholamandalam Investment Q2 Results: Profit surges 41% to Rs 1,630 crore; co plans to raise Rs 5,00O crore via QIP
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Cholamandalam Investment and Finance Company reported a 41 percent jump in net profit to Rs 1,630 crore for the second quarter ended September 30.
- ✓Total income rose to Rs 9,367 crore.
- ✓The company also plans to raise Rs 5,000 crore through a qualified institutional placement to boost its capital base.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Cholamandalam Investment and Finance Company has reported an impressive 41 percent surge in net profit for the second quarter, marking Rs 1,630 crore, up from Rs 1,155 crore the previous year. Their total income significantly increased to Rs 9,367 crore, primarily fueled by rising interest income. Additionally, the company's gross non-performing assets improved to 3.29 percent, signaling enhanced asset quality.
Cholamandalam Investment and Finance Company on Wednesday reported a 41 per cent jump in net profit to Rs 1,630 crore for the second quarter ended September 30.
The financial services division of the diversified conglomerate Murugappa Group earned a net profit of Rs 1,155 crore in the year-ago period.
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Economic Times
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