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CHOLAFIN - Cholamandalam Investment And Finance News Story

₹240.65 1.1  0.5%

Last Trade - 11:24am

Sector
Financials
Size
Mid Cap
Market Cap £2.06bn
Enterprise Value £7.10bn
Revenue £922.3m
Position in Universe 148th / 3004

BUZZ-India's Cholamandalam Investment & Finance falls as COVID-19 hits Q4 profit

** Shares of Indian financial services group  CHLA.NS  slip
as much as 8.3% to 143 rupees, their biggest intraday pct drop
since May 18
    ** Co reported on Wednesday March quarter profit slumped
85.3% to 426.6 million rupees, hit by a one-time provision of
5.04 billion rupees to cover contingencies from COVID-19 and
"macro economic downturn"  urn:newsml:reuters.com:*:nFWN2DG04Y
    ** CHLA's interest income grew 15.5% to 20.47 billion rupees
for the March quarter
    ** Stock hits lowest since May 29
    ** Shares have fallen ~49% this year as of last close

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))
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