Cholamandalam Investment and Finance Company Limited Q 3 Performance- Total Income grows by 27%, PAT up by 13%

 During the quarter the disbursements in vehicle finance were flat while disbursements in home equity loans grew by 31% compared to the same period last year.

The Company disbursed Rs.2587 Cr. in Vehicle Finance as against Rs.2574 Cr. in Q 3 of 2012 – 13 and disbursed Rs.688 Cr. in Home Equity loans as against Rs.525 Cr. in Q 3 of 2012 – 13.  Disbursements from new businesses were Rs.61 Cr. for the quarter. 

The aggregate disbursements of the Company for the quarter are Rs.3336 Cr. as against Rs.3113 Cr. in Q 3 of 2012 - 13 registering a growth of 7%.

Total Income is Rs.844 Cr. compared to Rs.666 Cr. in Q 3 of 2012 -13 registering a growth of 27%. 

Profit before tax is Rs.140 Cr. as against Rs.122 Cr. in Q 3 of 2012 -13 registering a growth of 14%. Profit after tax is Rs.92 Cr. as against Rs.81 Cr. in Q 3 of 2012 -13 registering a growth of 13%.

Period ended 31^st December 2013 - Performance Highlights:

During the nine months period ended December 2013, disbursements in vehicle finance grew by 9% and disbursements in home equity loans grew by 33% compared to the same period last year. The company disbursed Rs.7333 Cr. in Vehicle Finance as against Rs.6742 Cr. during the nine months ended 31^st December 2012 and disbursed Rs.2024 Cr. in Home Equity loans as against Rs.1523 Cr. during the nine months ended 31^st December 2012. 

 Disbursements from new businesses were Rs.84 Cr. for period ended December 13. The aggregate disbursements of the Company for the 9 months ended are Rs.9442 Cr. as against Rs.8310 Cr. of the same period last year registering a growth of 14%.

Total Income is Rs.2415 Cr. compared to Rs.1830 Cr. for nine months ended 31^st December 2012 registering a growth of 32%. 

Profit before tax is Rs.413 Cr. as against Rs.328 Cr. for nine months ended 31^st December 2012 registering a growth of 26%. Profit after tax is Rs.273 Cr. as against Rs.221 Cr. for the same period in previous financial year registering a growth of 24%

The Company continues to witness portfolio pressure in the Commercial Vehicle business and has taken a prudent approach to portfolio quality management through a combination of aggressive repossession of non-performing assets and conservative provisioning of our repossessed stock.

Financial Performance - Summary :

• The Company expanded its presence to 529 branches as on 31^st December 2013 compared to 518 branches as on 31^st March 2013. The additional branches are in Tier III and Tier IV locations across India.

• Capital adequacy ratio stands at 18.20% compared to statutory minimum of 15%.

Portfolio Quality:

 With a vigorous focus on portfolio quality, the Company contained GNPA at 1.7% and NNPA at 0.7%. Provision coverage is at 58%

Subsidiaries Performance:

The subsidiaries made a profit of Rs.3 Cr. during the period compared to a loss of Rs.0.29 Cr. for nine months ended 31^st December 2012.

Consolidated Results:

The consolidated profit after tax for the nine months ended 31^st December 2013 was Rs.276 Cr. as against a PAT of Rs. 221 Cr. for nine months ended 31^st December 2012 registering a growth of 25%.

Interim Dividend:

The Board has declared an interim dividend of Rs.2.50/- per share (25% on the face value of Rs.10/- per share) to its equity shareholders for the year ending 31st March 2014 considering the performance year to date.

For More details
Sarodhya Yadav

Tel :91 40 40140753 / 65742740
M: 8686080577 

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