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Cholamandalam DBS posts 213% growth in
Profit and 125% growth in
revenue during the Third Quarter |
Chennai 25 January, 2008: Cholamandalam DBS
Finance Limited records a growth of 125% in
Revenue over the corresponding period last
year. The revenue stands at Rs.243 Crores
for the Quarter ended October – December,
2007 as against Rs.109 Crores during the
same period in the previous financial year.
The Profit Before Tax (PBT) is up by 213% at
Rs. 33.70 Crores as compared to Rs.10.78
Crores during the same period in the year
2006. The Profit After Tax (PAT) is up by
180% at Rs. 20.25 Crores as compared to
Rs.7.23 Crores during the same period in the
year 2006.
The consolidated Profit Before Tax (PBT),
including all subsidiaries, is up by 176% at
Rs. 32.56 Crores as compared to Rs.11.81
Crores during the same period last year. The
Profit After Tax (PAT) were up by 127% at Rs.
18.37 Crores as compared to Rs.8.10 Crores
during the same period in the year 2006.
This was driven by the increase in costs of
adding 60 new branches and employees in the
Wealth Management vertical.
The company posted a growth of 88% in total
disbursements during the period October –
December, 2007 over the corresponding period
of the previous year. The disbursements were
at Rs. 1379 Crores up from Rs. 733 Crores
during the same period last year.
The Vehicle Finance disbursements grew by
49% over the same quarter previous year.
Personal Loans, Home Equity loans and the
newly launched businesses, also demonstrated
high growth rates during the quarter.
The Consumer Finance business has expanded
to 93 neighbourhood branches in over 50
cities, across India. Home Equity Loans
business was launched in October 2006 in
Chennai, Bangalore, Hyderabad and Coimbatore
and is now available in 15 cities.
During this quarter the company also
launched its e-broking under the Wealth
Management Business as an additional product
offering in the Retail product market. The
Two Wheeler Loan business, which was
launched in the previous quarter has
increased its distribution network and is
currently offered from over 20 cities. The
company plans to expand the product offering
to the other locations by the end of this
Financial Year.
Speaking on the occasion, Mr. Atul Pande,
Managing Director said “Our endeavor to
focus in the retail market continues to add
value to our customers and growth in
revenues for the company. With the
introduction of new products and businesses
we are now prepared to service our customers
both in Consumer Borrowing and Wealth
Management/ Investment Advisory Services
through over 300 outlets across India”
About Cholamandalam DBS Finance Limited
Cholamandalam DBS is a joint venture between
the Murugappa Group and DBS Bank of
Singapore. The Company, along with its
subsidiaries and affiliates offers
individual and institutional customers a
range of financial services such as,
Personal Loans, Vehicle Finance, Home Equity
Loans, Capital Market Finance, Corporate
Finance, Mutual Funds, Securities Broking
and Distribution of Investment and Insurance
products. The Company’s shares are listed on
Bombay (BSE) and National (NSE) stock
exchanges.
About the Murugappa Group
Headquartered in Chennai, the USD 2
billion (Rs.8500 crore) Murugappa Group is
India’s leading business conglomerate.
Market leaders in diverse areas of business
including engineering, abrasives, finance,
general insurance, sanitaryware, cycles,
sugar, farm inputs, fertilizers,
plantations, bio-products and nutraceuticals,
its 29 registered companies have
manufacturing facilities spread across 14
states in India. The organisation fosters an
environment of professionalism and has a
workforce of over 30,000 employees.
The Group has forged strong joint venture
alliances with leading international
companies like Roca, Cargill, DBS Bank,
Mitsui Sumitomo and Groupe Chimique Tunisien
and has consolidated its status as one of
the fastest growing diversified business
houses in India.
About DBS
Headquartered in Singapore, DBS Group
Holdings Ltd is the holding company of DBS
Bank and is one of the largest companies in
terms of market capitalisation whose shares
are listed on the Singapore Exchange. DBS
Group and its subsidiaries form one of the
largest banking groups in the region in
terms of shareholders' funds and total
assets as at 31 December 2006, being
approximately SGD18.7 billion (USD12.2
billion) and approximately SGD197.4 billion
(USD129 billion). DBS is a leading bank in
Hong Kong. Beyond the anchor markets of
Singapore and Hong Kong, DBS serves
corporate, institutional and retail
customers through its operations in
Thailand, Malaysia, Indonesia, India, China
and The Philippines. The Bank's credit
ratings are one of the highest among banks
competing in the Asia-Pacific region, and in
Singapore.
For further information, please contact:
Mr. Atul Pande
Managing Director
Cholamandalam DBS Finance Limited
Tel: 044-25307172 |
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