KRChoksey: Cholamandalam Investment Q2 Review - Provisions High But Operating Profit Healthy
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Cholamandalam Investment and Finance Company Ltd.’s net interest income grew 35% YoY as their net interest margins improved.
Asset under management grew 16% YoY to Rs 74,471 crore. Cost to income fell on account of robust other incomes and savings in opex aiding pro-provision operating profit growth of 46% YoY.
Profit after tax remained flat QoQ as the provisions rose materially. Return on equity for H1 FY21 was at 20.0 % as against 19.2% in H1 FY20.
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