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KRChoksey Research Report
Cholamandalam Investment and Finance Co.'s net interest income excluding other income stood at Rs 1,269 crore, a growth of 8.2% YoY in Q2 FY22.
Operating profit stood at Rs 875 crore, down 3% YoY owing to higher operating expenses.
Profit after tax for Q2 FY22 were at Rs 607 crore compared to Rs 432 crore in Q2 FY21, reporting a growth of 40%.
The capital adequacy ratio of the company as on Sept. 30, 2021, was at 19.63% as against the regulatory requirement of 15%. Tier-I capital was at 16.67%.
Return on equity for the H1 FY22 was at 18.7% as against 20.0% in H1 FY21.
Cholamandalam Investment's asset quality at end of September 2021, represented by stage-III assets stood at 6.16% with a provision coverage of 36.45%, as against 6.79% as at end of June 2021 with a provision coverage of 35.51%.
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