CHENNAI: Cholamandalam Investment and Finance Company reported a profit after tax of Rs 762 crore for the September quarter, up 35% on a yearly-basis compared to the same period last year. The net profit for the half year ended in September was at Rs 1,489 crore, a jump of 32% compared to last year.
Net income for the quarter stood at Rs 2,367 crore, a 39% jump and the net income for H1 stood at Rs 4,493 crore. Disbursement of the non-banking entity for the quarter was Rs 14,623 crore, recording 47% growth over 21,542 crore last year. Cholamandalam Investment and Finance assets under management stood at Rs 91,841 crore.
Growth in disbursements was robust in the second quarter on account of allround growth in demand, the company said in a statement, adding that pickup in replacement demand in the auto sector supported growth for vehicle finance. Vehicle finance disbursements were at Rs 11,731 crore in Q2, registering a growth of 38% and loan against property (LAP) business disbursed Rs 3,192 crore, a 42% jump.