IDBI Capital: Cholamandalam Investment's AUM Growth Bounces Back In Q2
A cashier counts Indian one hundred-rupee banknotes at an Oriental Bank of Commerce branch in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

IDBI Capital: Cholamandalam Investment's AUM Growth Bounces Back In Q2

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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.

IDBI Capital Report

Cholamandalam Investment and Finance Co. reported higher profitability than expected in Q2 FY21, led by better asset under management growth (13% YoY versus 10% YoY Q1 FY21) and improvement in net interest margins.

NIMs improved surprisingly by 120 basis points QoQ led by change in product mix and lower cost of funds.

As of Oct. 28, 95% of moratorium customers paid at least one EMI, which is positive for asset quality.

Asset quality improved with Stage three assets declined by 36 basis points QoQ to 3% led by better collections and recovery.

Click on the attachment to read the full report:

IDBI Capital - Cholamandalam Investment Q2FY21 Result Update.pdf

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