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Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has reported a significant increase in its consolidated attributable profit for the fiscal first quarter ending June 30, 2024. The company’s profit attributable to owners surged to ₹9.47 billion, marking a 33% rise from ₹7.10 billion recorded in the same period last year. This robust growth reflects the company’s continued strength in its core operations and financial management.
According to a filing with the Indian stock exchange on Friday, Cholamandalam Investment’s earnings per share (EPS) also experienced a substantial jump. The EPS for the quarter increased to ₹11.25, up from ₹8.62 in the previous fiscal year. This notable improvement in EPS underscores the company’s ability to generate higher profits on a per-share basis, benefiting shareholders and reinforcing investor confidence.
The company’s revenue from operations saw a notable increase as well. For the quarter under review, revenue rose to ₹58.12 billion, up from ₹41 billion reported a year earlier. This 41% year-on-year growth in revenue highlights Cholamandalam Investment’s expanding business activities and effective revenue generation strategies.
In response to the positive financial results, the company’s shares experienced a 3% rise at the close of trade on the Indian bourses. This upward movement in share price indicates a favorable market reaction to the company’s strong performance and financial health.
Cholamandalam Investment and Finance, a leading player in the financial services sector, continues to demonstrate its resilience and growth potential amidst a dynamic economic environment. The impressive Q1 results reflect the company’s strategic focus on enhancing its operational efficiency and expanding its business footprint.
As Cholamandalam Investment moves forward in the fiscal year, investors and analysts will be keenly watching its performance to gauge the sustainability of this growth trajectory.