Motilal Oswal: Cholamandalam Investment - Business Rebounds In Q2; Asset Quality Improves
A cashier counts Indian rupee banknotes in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Motilal Oswal: Cholamandalam Investment - Business Rebounds In Q2; Asset Quality Improves

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 Company Ltd. reported approximately 40% YoY growth in profit after tax to Rs 4.3 billion (43% beat).

The company delivered strong all-round performance. The beat was driven largely by a higher topline, partially offset by higher credit costs.

Total income increased 15% QoQ versus a 6% QoQ increase in asset under management – this drove the large net interest income beat.

Margin improvement was attributable to a shift toward higher-yielding products in vehicle finance.

Click on the attachment to read the full report:

Motilal Oswal Cholamandalam Q2FY21 Result Update.pdf

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