CIFCL Q2 Performance
|Rs in Cr.|
|2012-13||Particulars||2013 – 14||Q-o-Q||Y-o-Y|
|Q – 2||Half Yr||Q – 2||Half Yr||Growth %||Growth %|
|103||206||Profit Before Tax||135||273||31%||33%|
|70||140||Profit After Tax||90||181||29%||29%|
The Company expanded its presence to 529 branches as on 30th September 13 compared to 518 branches as on 31st March 2013. The additional branches are in Tier III and Tier IV locations across India.
Capital adequacy ratio stands at 17.11% compared to statutory minimum of 15%.
With a vigorous focus on portfolio quality, the Company maintained GNPA at 1.4% and NNPA at 0.4%. Provision coverage remains at a healthy 73%
The wealth management business constituting Chola Securities and Chola Distribution Services made a profit of 1.74 Cr. during the period compared to a loss of 0.23Cr. for half year ended 30th September 2012.
The consolidated profit after tax for the half year ended 30th Sept 2013 was 183 Cr. as against a PAT of 139 Cr. for half year ended 30th September 2012 registering a growth of 32%.
About Murugappa Group
Founded in 1900, the INR 225 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eleven listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Sabero Organics Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.