The Board of Cholamandalam Investment and Finance Co. has announced the elevation of Ravindra Kumar Kundu as its Managing Director.
His term of appointment would be for a period of five years with effect from Oct. 7.
Kundu currently serves Cholamandalam Investment and Finance Company as its Executive Director. Under his leadership, the company in a statement said, the Assets Under Management grew to Rs 1,53,000 crore in FY24 from Rs 67,000 crore in FY20.
Cholamandalam Investment and Finance is the financial services division of the diversified conglomerate the Murugappa Group.
Kundu has been with Cholamandalam Investment and Finance Company for 24 years, has an overall experience of 36 years in automobile and financial services industry.
For the April-June 2024 quarter, the company reported a profit after tax of Rs 942 crore, up by 29.7% from Rs 726 crore registered in the year ago period.
The total income during the quarter under review grew to Rs 5,828 crore from Rs 4,134 crore registered in the corresponding period of last year.
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