Cholamandalam Financial Reports Q1 FY24 Profit at Rs 1,159.56 cr

Chennai, Aug 9 (PTI) Cholamandalam Financial Holdings Ltd has reported a consolidated profit after tax for the April-June 2024 quarter to Rs 1,159.56 crore, the company said on Friday.


The company, part of the diversified conglomerate Murugappa Group had registered a profit after tax of Rs 791.78 crore during the corresponding quarter of last year.


For the financial year ending March 31, 2024 the consolidated profit after tax stood at Rs 3,850.56 crore.


The consolidated total income during the June-quarter grew to Rs 7,677.43 crore, from Rs 5,714.59 crore registered in the same quarter of last year.


For the financial year ending March 31, 2024 the consolidated total income stood at Rs 26,086.76 crore.


Cholamandalam Investment and Finance Company Ltd, in which Cholamandalam Financial Holdings Ltd holds about 44.38 per cent stake disbursed Rs 24,332 crore in April-June 2024 quarter as against Rs 20,015 crore in the corresponding quarter of last year.


Cholamandalam MS General Insurance Company Ltd, in which the company (CFHL) holds 60 per cent stake registered a Gross Written Premium of Rs 1,957 crore during the quarter under review as against Rs 1,731 crore in the corresponding quarter of last year.


Cholamandalam MS Risk Services Ltd, a joint venture company in which Cholamandalam Financial Holdings has about 49.5 per cent stake, registered a total income of Rs 16.29 crore for the quarter ending June 30, 2024 as against Rs 15.28 crore in the corresponding quarter of last year.