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Cholamandalam Financial Holdings Limited announces Q3FY21 results
Posted On : 2021-02-05 15:43:51( TIMEZONE : IST )
The Board of Directors of Cholamandalam Financial Holdings Limited (CFHL) today approved the unaudited financial results for the quarter and nine months period ended December 31, 2020.
Consolidated Results
For the quarter ended December 31, 2020, the Company achieved consolidated PAT of Rs. 455 Cr as against Rs.430 Cr in the corresponding quarter of the previous year, registering a growth of 6%. PAT for nine months in FY 21 is at Rs.1,550 Cr as against Rs.1,085 Cr in the same period last year, registering a growth of 43%.
Total income for the quarter is Rs.3,645 Cr as against Rs.3,395 Cr in the corresponding quarter of the previous year, registering a growth of 7%. Total income for nine months in FY21 is at Rs.10,382 Cr as against Rs.9,859 Cr in the same period last year registering a growth of 5%.
Cholamandalam Investment & Finance Company Ltd, in which the Company holds about 45.49% stake, disbursed Rs. 7,926 Cr. for the quarter ended December 31, 2020 as compared to Rs. 7,475 Cr. in the corresponding quarter of the previous year, registering a growth of 6%. Disbursements for nine month in FY 21 is at Rs.17,972 Cr as compared to Rs.23,429 Cr in the same period last year, registering a decline of 23%.
PAT tax for the current quarter is Rs. 409 Cr compared to Rs.389 Cr in the corresponding quarter of the previous year, registering an increase of 5%.
Assets under management grew by 15% to Rs. 75,813 Cr as at December 31, 2020 as compared to Rs.65,992 Cr as at December 31, 2019.
Cholamandalam MS General Insurance Company Ltd., a subsidiary in general insurance business, in which the Company holds about 60% stake, registered a Gross Written Premium (GWP) of Rs. 1,274 Cr during the quarter ended December 31, 2020 as against Rs. 1,207 Cr in the corresponding quarter of the previous year. The GWP for nine months in FY 21 is Rs.3,331 Cr as against Rs.3,602 Cr in the corresponding period of the previous year. PAT for the quarter ended December 31, 2020 is at the same level of Rs. 46 Cr as in the corresponding quarter of the previous year. PAT for the nine months in FY 21 is Rs.284 Cr as against Rs.84 Cr in the corresponding period of the previous year.
Cholamandalam MS Risk Services Ltd., a Joint Venture Company, in which the Company holds 49.5% stake, registered total income of Rs. 13.32 Cr for the quarter ended December 31, 2020 as against Rs. 12.42 Cr in the corresponding quarter of the previous year. The total income for nine months in FY 21 is Rs.27.84 Cr as against Rs.33.03 Cr in the corresponding period of the previous year. PAT for the current quarter is Rs. 3.57 Cr as against Rs. 1.29 Cr in the corresponding quarter of the previous year. Profit after tax for the nine months in FY 21 is Rs.0.24 Cr as against PAT of Rs.1.36 Cr in the corresponding period of the previous year.
Standalone Results
The Loss after tax for the quarter ended December 31, 2020 is at Rs. 3.48 Cr as against PAT of Rs.39.36 Cr in the corresponding quarter of the previous year. Loss after tax for nine months in FY 21 is Rs.10.26 Cr as against PAT of Rs.60.77 Cr for nine months in FY 20. Loss for the current quarter and nine months is on account of interest cost recognised on borrowing made for equity investment in subsidiary company.
