Cholamandalam Investment Q4 net profit up at ₹243 crore
May 07, 2021
CIFCL reported loan losses of ₹504 crore - Getty Images/iStockphoto×
FY21 net profit rises 44% to ₹1,515 crore
Cholamandalam Investment & Finance Company Ltd (CIFCL) reported a zoom in its net profit at ₹243 crore for the quarter ended March 31, 2021, as against ₹43 crore in the year-ago period.
The company’s total income grew 14 per cent at ₹2,461 crore as against ₹2,151 crore in the year-ago period. “Net income margin grew 32 per cent at ₹1,342 crore (₹1,016 crore)”, according to a statement
CIFCL reported loan losses of ₹504 crore, which included additional overlay of ₹350 crore for the quarter, as against ₹557 crore in the year ago quarter.
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Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. Barring the Nifty PSU Bank index, all sectoral indices on the NSE ended in the green.
As per the provisional closing data, the S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.85.
Global stock market advanced as investors welcomed a strong jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.
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Indian stocks likely to witness positive momentum as optimism emerge on Covid front
May 07, 2021
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Stocks to watch out for today: CG Power, Sadbhav Infra, Aurionpro, Cupid, Shri Bajrang Alliance, and Zensar Tech.
Positive momentum is likely to continue for Indian stock markets on Friday, thanks to bullish global cues. SGX Nifty is currently ruling at 14,875 (800 am IST), signals a 100-point gap up opening for Nifty futures, which on Thursday closed at 14,769.95.
The US stocks overnight closed strongly higher, with Dow Jones gaining over 300 points and the tech-focused Nasdaq 50 points. Asian stock markets in the morning session too followed suit, as Japan s Nikkei, Korea s Kospi, Taiwan Weighted Index and Australia s ASX are ruling with a gain of between 0.3 per cent and 0.8 per cent.
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