Chola Q2 net rises 40% to ₹607 cr.

Cholamandalam Investment and Finance Co. Ltd. (CIFCL) has reported a 40% rise in its net profit to ₹607 crore for the second quarter ended September.

During the period under review, aggregate disbursements rose 35% to ₹8,706 crore, with vehicle finance accounting for ₹6,161 crore, loans against property ₹1,736 crore and home loan ₹494 crore, it said in a statement.

The financial services arm of the Murugappa Group said assets under management was flattish at ₹75,063 crore and its net income grew by 11% to ₹1,393 crore.

CIFCL continues to hold a strong liquidity position with ₹5,401 crore as cash balance with a total liquidity position of ₹9,800 crore. The asset-liability management is comfortable with no negative cumulative mismatches across all time buckets, it said.

It had a capital adequacy ratio stood at 19.63% against the regulatory requirement of 15%. Tier-I capital was at 16.67%. During Q2, CIFCL made an investment of ₹9.75 crore in Paytail Commerce Pvt. Ltd. for a 16.29% stake.n

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