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Cholamandalam Investment Q3 benefits: Co reports standalone profit at Rs 524 crore

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Chennai: Cholamandalam Investment and Finance Company Limited has recorded a new standalone profit for your quarter ending 12 , 31, 2021 at Rs 523.79 crore, the company claimed on Tuesday. Often the city-based financial services label of diversified conglomerate Murugappa Group company experienced registered standalone internet profits at Rs 408.86 crore during the corresponding fraction previous year.

For the nine-month interval ending December 31, 2021, the standalone profit grew in order to Rs 1,457.13 crore through Rs 1,271.70 registered similar period last monetary.

Total income for your quarter under overview on a standalone time frame was at Rs 2,530.22 crore as versus Rs 2,504.86 crore documented in the same interval last fiscal.

Total income for the nine-month period ending 12 , 31, 2021 increased to Rs several,467.92 crore from Rs several,058.29 crore registered a year ago.

The company said there are executed a “shareholders agreement” and a “share purchase agreement” about January 17 together with Payswiff Technologies Pvt Ltd, its creators and other existing investors towards strategic expenditure in the equity stocks of Payswiff good sum not beyond Rs 450 crore in one or more tranches.

“This will result in this company holding up to 72.12 per cent of the fairness capital of Payswiff on a fully diluted basis and consequently it will probably become a subsidiary with the company,” that said.

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