How did Chola report such good numbers in a tough quarter for financials?
Answer
Answer
Cholamandalam Finance, part of the Murugappa group of Chennai, surprised the street on the positive side with net profits of Rs.589 crore for the Jun-20 quarter. This is a sharp improvement over the net profit of Rs.350 crore in the Jun-19 quarter.
Total income of Chola Investments in the Jun-20 quarter was marginally up at Rs.3231 crore despite trying market conditions. It saw a 60% fall in loan disbursals but however the assets under management expanded by 13% to Rs.70,286 crore.