The aggregate disbursements of Cholamandalam Investment and Finance Company Ltd. (CIFCL) for the year ended March 31, 2019, amounted to Rs. 30,451 crores as against Rs. 25,114 crores in the previous year, registering a growth of 21%. Vehicle Finance (VF) business clocked a volume of Rs. 24,807 crores for the year as compared to the previous year at Rs. 20,540 crores, representing a growth of 21% per cent. Profits after tax (PAT) for the year were at Rs. 1,186 crores as against Rs. 918 crores, registering a growth of 29%.
Commenting on the company results, Mr. Arun Alagappan, Executive Director, stated: “We have been consistent in delivering growth over 25% in AUM, total income and PAT for the past few years, and the growth has been phenomenal even during the current year across all major parameters. The asset quality has improved further this year and is at an all-time low of 1.1% net NPA. During the year, the industry faced an adverse impact due to tightening of financing following the liquidity crunch. However this did not have any impact on the company which has built credible relationships with banks and financial institutions, leading to more than adequate funds for the company to disburse”.