Latest News | Cholamandalam Financial Reports Standalone Q4 Net at Rs 25.36 Cr

Chennai, Jun 16 (PTI): Cholamandalam Financial Holdings Ltd, formerly TI Financial Holdings Ltd, on Tuesday reported standalone profits for the January-March 2020 quarter at Rs 25.36 crore.

The city-based company part of the diversified conglomerate Murugappa Group had reported standalone net profits at Rs 34.26 crore during corresponding quarter of last year.

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For the full year ending March 31, 2020 standalone net profits grew to Rs 83.33 crore from Rs 66.53 crore registered a year ago.

The standalone total income for the January-March 2020 quarter fell to Rs 28.66 crore from Rs 36.47 crore registered in the same quarter last year.

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For the full year ending March 31, 2020 standalone total income rose to Rs 90.90 crore from Rs 73.52 crore registered a year ago.

On the operations of Cholamandalam Investment and Finance Company, in which the company holds 45.50 per cent stake, it disbursed Rs 29,091 crore for year ending March 31, 2020 as compared to Rs 30,451 crore in previous year.

Cholamandalam Investment and Finance Company said due to COVID-19 enforced lockdown its disbursements were 'severely impacted' during the fourth quarter ending March 31, 2020.

The company's total assets under management grew by 16 per cent at Rs 66,943 crore as compared to Rs 57,560 crore recorded in the same period last year.

Cholamandalam MS General Insurance Company, a subsidiary in the general insurance business, said it registered a gross written premium of Rs 4,824 crore during the year ending March 31, 2020 as against Rs 4,552 crore in the previous year.

Cholamandalam MS Risk Services Ltd., a joint venture company, registered revenues of Rs 46.29 crore for the year ending March 31, 2020 as against Rs 40.82 crore in FY 19-20.

The Board of Directors at their meeting in February had declared an interim dividend of Rs 0.64 per equity share of face value of Re one each for FY2019-20.

The board has recommended the same to be confirmed as final dividend for the year, it said.PTI VIJ SS

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