Cholamandalam Financial Q4 results: Firm reports standalone net profit of Rs 32 crore

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CHENNAI: Cholamandalam Financial Holdings Ltd has reported a standalone profit of Rs 31.97 crore for the quarter ending March 31, 2021.

The city-based Murugappa Group company registered standalone profit of Rs 25.36 crore during the corresponding quarter last.

For the year ending March 31, 2021, standalone profits stood at Rs 21.71 crore against Rs 83.33 crore a year ago.

The standalone total income for the quarter under review grew to Rs 50.74 crore from Rs 28.66 crore registered in the same quarter last fiscal.

For the year ending March 31, 2021, the standalone total income was Rs 58.14 crore against Rs 90.90 crore last year.

The company, in a statement, said the standalone profit after tax for the year ending March 31, 2021 was lower on account of lower dividend income and interest cost recognised on borrowing made for equity investment in a subsidiary company.

Cholamandalam MS General Insurance Company Ltd, a subsidiary in general insurance,…

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