Cholamandalam Financial Holdings Ltd. said consolidated net profit for the third quarter ended December rose 19% to ₹543 crore. Total income inched up 2% to ₹3,727 crore, it said in a statement.
Cholamandalam Investment & Finance Co. Ltd. (CIFCL) posted net profit growth of 28% to ₹524 crore. Assets under management rose 4% to ₹79,161 crore. CIFCL said pent-up demand, good monsoon and uptrend in economic indicators led to a sharp recovery in disbursements and collections. Subsidiary Cholamandalam MS General Insurance registered a fall in net profit to ₹16 crore from ₹47 crore.
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