Cholamandalam Investment Shatters Records with Q2 Growth Surge

Cholamandalam Investment and Finance Company Ltd reported a significant rise in consolidated profit after tax for the July-September 2024 quarter, reaching Rs 967.80 crore. This reflects a notable increase from Rs 772.87 crore in the previous year's quarter, driven by higher disbursements and total income growth.

Cholamandalam Investment and Finance Company Ltd has declared a substantial increase in its consolidated profit after tax for the July-September 2024 quarter, recording Rs 967.80 crore. This marks a considerable rise from the Rs 772.87 crore recorded in the same quarter last year.

For the first half of the current financial year, the net profit soared to Rs 1,914.95 crore compared to Rs 1,482.81 crore during the corresponding period a year ago. The company's consolidated total income for the quarter also saw growth, surging to Rs 6,322.34 crore from Rs 4,695.16 crore in the year-ago period.

Further analysis shows that the total income for the half-year ending September 30, 2024, increased to Rs 12,179.09 crore from Rs 8,865.95 crore previously. Disbursements rose significantly during this period, reaching Rs 48,646 crore. Additionally, total Assets Under Management (AUM) as of September 2024 stood at Rs 1,77,426 crore, up from Rs 1,33,775 crore last year.

(With inputs from agencies.)