Cholamandalam Investment and Finance Company Ltd., a leading vehicle financing company, has reported a Q4 FY15 profit before tax (PBT) of Rs. 203 crores, a growth of 48 per cent on a Q-on-Q basis. For the full year PBT is Rs. 657 crores, 19 per cent higher than that of FY14. The company has accelerated provisioning to 5 months’ overdue and adopted standard asset provisioning to 0.30 per cent a year ahead of the RBI’s mandate.
A 16 per cent growth in net income margin (NIM) has been reported, while there has been a 13 per cent growth in closing assets on a Q-on-Q and Y-on-Y basis. Their has also been a decline in gross/net NPAs, on 6 months overdue basis, from 2.77 per cent in December’14 to 2.38 per cent.
The company’s profit after tax for Q4 FY15 at Rs. 136 crores represented a growth of 50 per cent on a Q-on-Q basis. For the full year PAT at Rs. 435 crores represented a 20 per cent growth.