Cholamandalam Investment and Finance Company Limited reported profit before tax of Rs 67.38 crore during the second quarter of 2010 -11 as against Rs 40.23 crore during the same period last year, an increase of 67 per cent. The company raised Tier II capital of Rs 107 crore during the quarter in the form of perpetual debt instrument and subordinated debt.
Disbursements in vehicle finance grew 67 per cent compared with the same period last year while home equity loans grew 14 per cent. It disbursed Rs 1,719 crore (Rs 1,032 crore) in vehicle finance and Rs 343 crore (Rs 300 crore) by way of home equity loans. Gross income from operations was up 41 per cent to Rs 413 crore (Rs 292 crore).
