Cholamandalam Financial Holdings posts marginal growth in Q2

For the quarter ended September 30, 2020, Cholamandalam Financial Holdings Ltd. (CFHL) has achieved a total income of Rs. 3,503 Cr as against Rs. 3,341 Cr in the corresponding quarter of the previous year, registering a growth of 5%. Total income for H1 FY21 stood at Rs. 6,737 Cr as against Rs. 6,463 Cr in the same period last year, registering a growth of 4%.

Cholamandalam Investment & Finance Company Ltd., in which CFHL holds about 45.49% stake, disbursed Rs. 6,457 Cr for the quarter ended September 30, 2020 as compared to Rs. 7,381 Cr in the corresponding quarter of the previous year, registering a decline of 13%. Disbursements for H1 FY21 is at Rs. 10,046 Cr as compared to Rs. 15,954 Cr in the same period last year, registering a decline of 37%.

PAT tax for the current quarter is Rs. 432 Cr compared to Rs. 307 Cr in the corresponding quarter of the previous year, registering an increase of 41%.

Assets under management grew by 16% to Rs. 74,471 Cr as at September 30, 2020 as compared to Rs. 64,409 Cr as at September 30, 2019.

Cholamandalam MS General Insurance Company Ltd., a subsidiary in general insurance business, in which CFHL holds about 60% stake, registered a Gross Written Premium (GWP) of Rs. 1,175 Cr during the quarter ended September 30, 2020 as against Rs. 1,196 Cr in the corresponding quarter of the previous year.  The GWP for H1 FY21 is Rs. 2,057 Cr as against Rs. 2,395 Cr in H1 FY20. PAT for the quarter ended September 30, 2020 is at Rs. 74 Cr as against Rs. 16 Cr in the corresponding quarter of the previous year. PAT for the H1 FY21 is Rs. 238 Cr as against Rs. 38 Cr in H1 FY20.   

Cholamandalam MS Risk Services Ltd., a Joint Venture Company, in which CFHL holds 49.5% stake, registered total income of Rs. 9.25 Cr for the quarter ended September 30, 2020 as against Rs. 11.94 Cr in the corresponding quarter of the previous year. The total income for H1 FY21 is Rs. 14.52 Cr as against Rs. 20.61 Cr in H1 FY20. PAT for the current quarter is Rs. 0.26 Cr as against Rs. 1 Cr in the corresponding quarter of the previous year. Loss after tax for H1 FY21 is Rs. 3.33 Cr as against PAT of Rs. 0.08 Cr for H1 FY20.