Cholamandalam Investment and Finance Company Ltd. (CIFCL) has reported a 98 per cent increase in net profit to Rs. 81 crore in the third quarter ended December 31, 2012. This compares with Rs. 41 crore in the corresponding period last fiscal.
Total income increased by 41 per cent to Rs. 666 crore (Rs. 471 crore), mainly due to a 34 per cent increase in vehicle finance and a 43 per cent growth in home equity loans.
The company disbursed Rs. 2,574 crore in vehicle finance as against Rs. 1,915 crore in the corresponding quarter last year.
It disbursed Rs. 525 crore (Rs. 368 crore) in home equity loans. Gold loan disbursements were at Rs. 14 crore for the quarter.