Cholamandalam Financial records 30% jump in Q4 PAT at Rs1,143 crore

For FY24, net profits grew by 37% to Rs3,850.56 crore

Chennai: Cholamandalam Financial Holdings Ltd has reported a 26.9 per cent growth in its consolidated profit after tax at Rs1,143.75 crore for the March 2024 quarter, the company said.

The city-based company, part of the diversified conglomerate Murugappa Group, had registered net profits of Rs900.77 crore during the corresponding period of last year.

For the year ending March 31, 2024, the consolidated net profits grew by 37 per cent to Rs3,850.56 crore, from Rs 2,809.62 crore registered a year ago.

The total income during the quarter under review on a consolidated basis went up to Rs7,157.91 crore, from Rs5,281.23 crore registered in the same period of last year.

For the year ending March 31, 2024, the consolidated total income soared to Rs26,086.76 crore, from Rs18,376.03 crore registered last year.

Cholamandalam Investment and Finance Company Ltd, in which Cholamandalam Financial Holdings Ltd holds a 44.39 per cent stake, disbursed Rs24,784 crore during the quarter ending March 31, 2024, as against Rs21,020 crore recorded in the corresponding quarter of last year.

Cholamandalam MS General Insurance Company Ltd, a subsidiary in the general insurance business, registered a Gross Written Premium of Rs2,000 crore during the quarter ending March 31, 2024, as against Rs1,805 crore in the corresponding quarter of last year.

Cholamandalam MS Risk Services Ltd, a joint venture company in which Cholamandalam Financial Holdings Ltd has a 49.5 per cent stake, registered a total income of Rs20.87 crore for the quarter under review as against Rs17.70 crore recorded in the corresponding quarter of last year.

The Board of Directors which met here today recommended a final dividend of 55 per cent or Rs0.55 per equity share of face value of Re1 of the company, for the year ending March 31, 2024 subject to the approval of shareholders.