11,633.30-45.2
Stock Analysis, IPO, Mutual Funds, Bonds & More

Cholamandalam Investment Q3 profit up 28% at Rs 389 crore

Total income of the company rose to Rs 2,274.90 crore from Rs 1,826.23 crore.

PTI|
Last Updated: Jan 23, 2020, 09.56 PM IST
0Comments
Getty Images
Earnings4-Getty-1200
New Delhi: Financial services company Cholamandalam Investment and Finance on Thursday reported a 28 per cent jump in net profit at Rs 389 crore for the quarter ended December 31.

The company had reported a profit after tax of Rs 304 crore in the year-ago period.

Total income of the company rose to Rs 2,274.90 crore from Rs 1,826.23 crore in the same period a year ago, Cholamandalam Investment and Finance said in a statement.

Notwithstanding the tight market conditions, the company continues to maintain strong asset quality with a marginal increase in Stage 3 receivables to 3.54 per cent from 3.30 per cent in December 2018, it said.

The company's board approved issue of equity shares by way of preferential issue to Cholamandalam Financial Holdings Limited, a promoter entity, up to an amount not exceeding Rs 300 crore in one or more tranches at such price, it added.

Also Read

Buy Cholamandalam Investment, price target Rs 350: Kunal Bothra

Buy Cholamandalam Financial Holdings, price target Rs 535: Jayesh Bhanushali

Mahindra Finance and Cholamandalam preferred NBFC picks in long term: Vivek Mavani

Buy Cholamandalam Investment, price target Rs 320: Kunal Bothra

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service