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ARUL SELVAN PORTFOLIO
What’s driving growth for Chola Investment? CFO Arul Selvan answers
Chola Investment & Fin's President & CFO, Arul Selvan, says that the asset quality for Q1 will deteriorate slightly as collection efforts were high due to end-of-year activities in Q4. However, Chola Investment AUM has seen healthy growth across all verticals, especially vehicle finance and SME business. The cost of funds is expected to moderate going forward, and the new rate book for vehicle finance will take at least three to four quarters to reflect the new rates. Despite provisions tripling, the asset quality is performing much better than pre-COVID on a quarter-on-quarter basis.
Cholamandalam Finance standalone net up 13 per cent at Rs 92 crore
Cholamandalam Investment and Finance today reported a 13 per cent rise in standalone net profit in the three months to December at Rs 92 crore.
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