Cholamandalam Investment and Finance Company reported a net profit of ₹1,088 crore for Q3FY24, which exceeded the CNBC-TV18 poll estimate of ₹1,010.6 crore. This marked a solid 25% YoY increase from ₹872 crore in the same period last year.
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Net interest income (NII) rose by 33% YoY to ₹2,892 crore, although it was slightly below the poll estimate of ₹2,936 crore.
On the asset quality front, the gross NPA ratio increased to 4% from 3.78% in the previous quarter, while the net NPA ratio rose to 2.66% from 2.48% QoQ.
Also read: PNB Q3 Results: Profit aided by other income, write-back; asset quality improvesThe provision coverage ratio stood at 44.1%, slightly lower than the previous quarter’s 44.5%.
Cholamandalam Investment and Finance Company shares were trading at ₹1,287.50, up 0.66%, following positive movement after the release of the Q3 results.
The stock saw a rise from the day’s low of ₹1,248.
First Published: Jan 31, 2025 3:10 PM IS
