Mumbai: Cholamandalam Investment and Finance Company on Thursday reported 25% increase in net profit during the quarter ended June 30, 2017.During the quarter, the company posted net profit of Rs 206 crore in the quarter ended June 30, 2017 as against Rs 169 crore in the same quarter previous year.Cholamandalam -the financial services arm of the Murugappa Group disbursed Rs 3,819 crore in vehicle finance business as against Rs 3,326 Cr. in Q1 of FY17, recording a growth of 15%. Home Equity disbursements declined 25% to Rs 740 crore in the first quarter as against Rs 991 Cr in Q1 FY17. Chola’s aggregate disbursements for the quarter were ₹ 4,853 Cr as against ₹ 4,561 Cr in Q1 of FY17.Chola’s net interest margin was 8% for the quarter, compared to 7.1% in the same quarter of last year. “We continue our enhanced focus on collections,” said company in a statement.

Source: Economic Times July 27, 2017 10:16 UTC