Shares of this finance company zoom by 10% in just two trading sessions!
Reported 25% rise in Q4 consolidated net profit
Cholamandalam Investment and Finance Company has reported results for the fourth quarter and year ended March 31, 2023, on May 3, 2023.
In comparison to the same quarter last year, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 24.53% to Rs. 855.20 crore from Rs 686.74 on a consolidated basis. In Q4FY23, the company's total revenue climbed by 44.34% to Rs 3,834.57 crore from Rs 2,656.63 crore in a similar period the year prior.
On a consolidated basis, the firm recorded a 23.74% increase in net profit for the year ended March 31, 2023, from Rs 2,153.51 crore to Rs 2,664.85 crore. When compared to the year ended March 31, 2022, the company's total revenue increased by 28.09% to Rs 13,105.59 crore from Rs 10,231.81 for the year under review.
Share Price Movement:
Cholamandalam Investment and Finance Company is currently trading at Rs 980.30, up by 30.20 points or 3.18% from its previous closing of Rs 950.10 on the BSE.
The scrip opened at Rs 953.95 and touched a high and low of Rs 981.55 and Rs 949.20, respectively. So far 26,856 shares were traded on the counter.
The BSE group 'A' stock of face value of Rs 2 has touched a 52-week high of Rs 981.55 and a 52-week low of Rs 594. On 3 May 2023, it closed at Rs 886.60 since then till now it is up by 10.6%.
Cholamandalam Investment and Finance Company Limited is the arm of the Murugappa Group. It is one of the premier diversified non-banking finance companies in India, engaged in providing vehicle finance, home loans and loans against property. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider.
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