Home / Companies / Cholamandalam reports fourth quarter profit of Rs192 crore

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.

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