Cholamandalam Finance jumps post stellar FY18 results

Cholamandalam Investment and Finance Company reported stellar performance for FY18. The revenue for the quarter as well as for full-year witnessed robust growth.

The NII for the quarter rose by 34 per cent yoy and 12.5 per cent qoq to Rs. 891 crore in Q4FY18 as against Rs. 792 crore in the previous quarter and Rs. 665 crore in the previous year's corresponding quarter. The interest income for the company grew by 24.6 per cent yoy to Rs. 1,511 crore in Q4FY18. Further, on full year basis, the revenue grew by 16 per cent yoy resulting into 29 per cent yoy to Rs. 3,117 crore in FY18.

The provisions for the quarter rose by 40.6 per cent yoy, while declined by 18 percent qoq to Rs. 73.6 crore in Q4FY18 as against Rs. 52.3 crore in Q4FY17 and Rs. 90 crore in previous quarter. The resultant net profit for the quarter rose by Rs. 291 crore in Q4FY18 as against Rs. 219 crore in the previous year corresponding quarter for FY18.

The company also recommended dividend of Rs. 2 per share on face value of Rs. 1 per share.

Meanwhile, the stock zoomed 6.17 per cent after the result announcement and closed at Rs. 1,663 per share for the day