Cholamandalam Financial Holdings Ltd Posts 26.9% Growth For Q4

Cholamandalam Financial Holdings Ltd on Friday reported a 26.9% growth in its consolidated profit after tax at Rs 1,143.75 crore for the March 2024 quarter, the company said.

The city-based company, part of the diversified conglomerate Murugappa Group, had registered net profits of Rs 900.77 crore during the corresponding period of last year.

For the year ending March 31, 2024, the consolidated net profits grew by 37% to Rs 3,850.56 crore, from Rs 2,809.62 crore registered a year ago.

The total income during the quarter under review on a consolidated basis went up to Rs 7,157.91 crore, from Rs 5,281.23 crore registered in the same period of last year.

For the year ending March 31, 2024, the consolidated total income soared to Rs 26,086.76 crore, from Rs 18,376.03 crore registered last year.

Cholamandalam Investment and Finance Company Ltd, in which Cholamandalam Financial Holdings Ltd holds a 44.39 per cent stake, disbursed Rs 24,784 crore during the quarter ending March 31, 2024, as against Rs 21,020 crore recorded in the corresponding quarter of last year.

Cholamandalam MS General Insurance Company Ltd, a subsidiary in the general insurance business, registered a Gross Written Premium of Rs 2,000 crore during the quarter ending March 31, 2024, as against Rs 1,805 crore in the corresponding quarter of last year.

Cholamandalam MS Risk Services Ltd, a joint venture company in which Cholamandalam Financial Holdings Ltd has a 49.5% stake, registered a total income of Rs 20.87 crore for the quarter under review as against Rs 17.70 crore recorded in the corresponding quarter of last year.

The Board of Directors which met here today has recommended a final dividend of 55% Rs 0.55 per equity share of face value of Re 1 of the company, for the year ending March 31, 2024 subject to the approval of shareholders.