Cholamandalam reports fourth quarter profit of Rs192 crore
1 min read . Updated: 29 Apr 2016, 11:02 PM IST
PremiumThe financing company, which offers loans for vehicles, homes and small and medium enterprises, said its net interest margin widened by 9.4% in the quarter
Hyderabad: Cholamandalam Investment and Finance Co. Ltd on Friday reported a fourth quarter FY16 profit of ₹ 192 crore, up 41% over the year-ago period’s ₹ 136 crore
The financing company, which offers loans for vehicles, homes and small and medium enterprises, said its net interest margin (NIM) widened by 9.4% in the quarter from 8% a year ago.
“The NIM was strengthened by a healthy increase in interest income, reduction in cost of funds and substantial increase in fee and other income," Cholamandalam said in a statement.
Gross non-performing assets (NPAs) stood at 3.53% and net NPAs at 2.13% of the loan book, the Murugappa Group company said.
