Cholamandalam Financial Holdings posts consolidated Q2 PAT at Rs 888.03 cr

Chennai: Cholamandalam Financial Holdings Ltd has reported a consolidated profit after tax for the July-September 2023 quarter at Rs 888.03 crore, the company said.

The company had posted a consolidated PAT at Rs 606.35 crore during the corresponding quarter of last year. For the six months ended September 30, 2023, the consolidated PAT surged to Rs 1,679.81 crore, from Rs 1,188.82 crore registered during the same period of last year, a press release said on Friday.

The consolidated total income grew to Rs 6,372.23 crore, from Rs 4,355.33 crore registered in the same period last year. For the half-year ended September 30, 2023, the consolidated total income went up to Rs 12,086.82 crore, from Rs 8,318.05 crore registered in the same period of last year. Cholamandalam Investment and Finance Company Ltd, in which Cholamandalam Financial Holdings has about 43.34 per cent stake disbursed Rs 21,542 crore during the quarter that ended September 30, 2023, as against Rs 14,623 crore in the same period of last year, registering a growth of 47 per cent. Assets under management grew by 46 per cent to Rs 1,33,775 crore as of September 30, 2023, from Rs 91,841 crore AUM as of the same period of last year.

Cholamandalam MS General Insurance Company Ltd, a subsidiary of general insurance business registered a Gross Written Premium of Rs 1,984 crore for the quarter ended September 30, 2023, from Rs 1,534 crore registered during the same period of last year. Cholamandalam MS General Insurance Company has an investment book of Rs 15,240 crore as of September 30, 2023. Cholamandalam MS Risk Services Ltd, in which Cholamandalam Financial Holdings Ltd has 49.5 per cent stake registered a total income for the quarter ending September 30, 2023, at Rs 17.55 crore as against Rs 16.25 crore registered in the same period of last year. Total income for the half year ended September 30, 2023, stood at Rs 1.09 crore as against Rs 2.83 crore registered in the corresponding period of last year, the statement added.