Date:28/04/2005 URL: http://www.thehindubusinessline.com/2005/04/28/stories/2005042801570600.htm

Back Cholamandalam Investment to pay 50 pc

Our Bureau

Chennai , April 27

CHOLAMANDALAM Investment and Finance Company Ltd has reported a net profit of Rs 32.10 crore for 2004-05, up 6 per cent from Rs 30.78 crore for the previous year.

The company has recommended a dividend of Rs 5 a share (50 per cent).

Total disbursements for all categories of vehicles were at Rs 1,127 crore. Of this, disbursements for heavy and light commercial vehicles, which accounted for almost three-fourths of total disbursements, grew by over 45 per cent.

The company's gross asset base (including assets securitised) grew by 16 per cent to Rs 1,981 crore.

The profit before tax and extraordinary items (PBT) was Rs 51.56 crore (Rs 46.06 crore), a growth of 12 per cent.

Cholamandalam offers automobile finance in 120 locations across India. The company's capital adequacy ratio stands at 18.5 per cent as against the RBI's requirement of 12 per cent, according to a press release from the company.