Cholamandalam Investment Q4 Review - One-Offs Lead To Profit Miss: Motilal Oswal
An employee counts Indian one hundred rupee banknotes in a branch in New New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

Cholamandalam Investment Q4 Review - One-Offs Lead To Profit Miss: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Cholamandalam Investment and Finance Co. reported a Q4 FY21 profit after tax of Rs 2.4 billion, 55% miss on higher-than-expected employee expenses and credit costs.

The profit after tax miss belies the healthy on the-ground operating performance.

Disbursements/assets under management grew 43%/16% YoY, while asset quality was stable.

In FY21, the company delivered net interest income/pre-provision operating profit/profit after tax growth of 32-44% YoY.

It also increased its total provision buffer by 90 basis points to 3.6% in FY21.

Click on the attachment to read the full report:

Motilal Oswal Cholamandalam Q4FY21 Result Update.pdf

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