Chennai, Nov 2 (PTI) Cholamandalam Investment and Finance Company has reported a standalone profit of Rs 762.49 crore for the July-September 2023 quarter following an all round growth in disbursements and assets under management, the company said.

The city-based financial services arm of diversified conglomerate Murugappa Group had reported a standalone profit at Rs 563.41 crore in the corresponding quarter of last year.

Also Read | Chhattisgarh Foundation Day 2023 Date and Significance: Know History of Chhattisgarh Rajyotsava Day When the State Was Formed.

For the six months period ended September 30, 2023 the standalone profit surged to Rs 1,488.50 crore from Rs 1,129.07 crore recorded during the corresponding period of last year.

Total income on standalone basis stood at Rs 4,571.89 crore, as against Rs 3,037.78 crore registered during the same period of last year.

Also Read | Karnataka Rajyotsava Day 2023 Date: Know History and Significance of the Day When the State of Karnataka Was Formed.

For the half-year ended September 30, 2023 the standalone total income grew to Rs 8,705.51 crore from Rs 5,808.71 crore registered during the year ago period.

In a statement, the company said the growth in disbursements and the Assets Under Management were robust during the quarter ended September 30, 2023, following an all round growth in demand.

Disbursements during the quarter under review were at Rs 21,542 crore, as against Rs 14,623 crore registered during the same period of last year.

Assets under management as of September 30, 2023 stood at Rs 1,33,775 crore as compared to Rs 91,841 crore recorded as of September 30, 2022.

Vehicle finance disbursements stood at Rs 11,731 crore during the July-September 2023 quarter as compared to Rs 8,502 crore recorded in the same period of last year.

The Loan Against Property business recorded a growth of Rs 3,192 crore during the quarter as against Rs 2,246 crore registered in the corresponding quarter of last year.

Disbursements made under the small and medium enterprises loans grew to Rs 1,945 crore during the July-September 2023 quarter from Rs 1,473 crore recorded in the same period of last year.

Consumer and Small Enterprise Loans disbursed Rs 2,853 crore during the July-September 2023 quarter as against Rs 1,579 crore registered in the same period of last year.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)