Cholamandalam Investment gains after Q4 profit up 48%

Net profit for the March quarter was up 48% at Rs 137 crore

Shares of Cholamandalam Investment and Finance gained 3% to Rs 596 after the non-banking finance company posted 48% growth in net profit during the quarter ended March 31, at Rs 137 crore against Rs 92 crore for the same quarter of the previous financial year.

Further, income from operations grew 12% to Rs 942 crore for the quarter, compared to Rs 844 crore for the same quarter of previous financial year.

The board has recommended a final dividend of Re 1/- per share for the year ended March 31, 2105, the company said in a release.

The stock opened at Rs 600 and touched a high of Rs 608. At 10:40AM, over 43,000 shares were traded on both the stock exchanges.