Chola Investment net up 44%

Total income increased 38.6% to Rs 730.69 cr during the quarter from Rs 527.33 cr

Non-banking financial company, Cholamandalam Investment and Finance Company Ltd, posted a net profit of Rs 87.41 crore for the quarter ended March 31, 2013, up 43.84 per cent as against Rs 60.77 crore registered during the same period a year ago.

Total income increased 38.6 per cent to Rs 730.69 crore during the quarter from Rs 527.33 crore.

The fourth quarter was good for the company with disbursements in vehicle finance and home equity loans growing 32 per cent and 42 per cent respectively compared with the same period last year, a company release stated.

The company disbursed Rs 3,140 crore in vehicle finance during the quarter as against Rs 2,370 crore in the same period last fiscal, and Rs 639 crore in home equity loans as against Rs 448 crore.

Its light commercial vehicle portfolio grew more than 20 per cent, it said.