Cholamandalam Financial Holdings Ltd. has reported a standalone profit of ₹31.97 crore for the quarter ended March 31.
The company had posted a profit of ₹25.36 crore in the year-earlier quarter.
For the year ended March 31, profit was ₹21.71 crore, against ₹83.33 crore.
Total income for the quarter grew to ₹50.74 crore, from ₹28.66 crore in the same quarter last fiscal.
Full-year profit was lower on account of lower dividend income and interest cost recognised on borrowing made for equity investment in a subsidiary, the firm said in a statement.
Cholamandalam MS General Insurance Company Ltd, a subsidiary in general insurance, registered a gross written premium of ₹ 4,705 crore in FY ‘21 against ₹ 4,824 crore last year.
Cholamandalam MS Risk Services Ltd, a joint venture company, registered a total income of ₹ 43.59 crore for the year ending March 31, 2021 against ₹ 48.90 crore registered in the same period last year.
Cholamandalam Investment and Finance Company Ltd said it disbursed ₹ 26,043 crore in FY ‘21 compared to ₹ 29,091 crore last year.
The decline was primarily due to lower disbursements in Q1 and Q2 of FY 2021 due to COVID-19 enforced lockdown, the company said.
The board of directors, which met on Friday, recommended a final dividend of 55 per cent being ₹ 0.55 per equity share of face value of ₹1 of the company for the year ending March 31, 2021 - subject to shareholders approval, the company said.
