Cholamandalam Investment Q4 Results: NII up 30%; firm to launch gold loan business

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Cholamandalam Investment Q4 Results: NII up 30%; firm to launch gold loan business

//business-finance.news-articles.net/content/202 .. nii-up-30-firm-to-launch-gold-loan-business.html

Published in Business and Finance on Friday, April 25th 2025 at 16:21 GMT by cnbctv18

Cholamandalam Investment and Finance Company Ltd. reported a net profit of â‚¹1,259 crore in the March quarter, which was 3.91% higher than CNBC-TV18 poll estimate of â‚¹1,211.6 crore. On a year-on-year basis,

Cholamandalam Investment and Finance Company reported a significant rise in its standalone net profit for the fourth quarter of FY24, reaching Rs 1,057 crore, marking a 24.5% increase from the previous year's Rs 849 crore. The company's net interest income (NII) also saw a 21% year-on-year growth, amounting to Rs 2,214 crore compared to Rs 1,833 crore in the same quarter of the previous fiscal year. Additionally, the disbursements for the quarter grew by 18% to Rs 23,898 crore. Cholamandalam also announced its entry into the gold loan business, planning to launch this new venture in the first quarter of FY25. The company's stock reacted positively to these announcements, with shares rising 3.5% to Rs 1,195.50 on the day of the results announcement.

Read the Full CNBCTV18 Article at:
[ https://www.cnbctv18.com/market/cholamandalam-investment-q4-results-profit-nii-rise-to-launch-gold-loan-business-share-price-19594539.htm ]

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Cholamandalam Investment Q4 Results: NII up 30%; firm to launch gold loan business