Cholamandalam DBS loan payments up

October 20, 2006, Chennai: Cholamandalam DBS Finance Ltd has reported a net profit of Rs 4.77 crore for the quarter-ended September, against Rs 16.36 crore for the same quarter of last year.

The company has pointed out in a press release that last year's second quarter included gain of Rs 14.54 crore due to sale of long-term investments.

Income from operations was Rs 78 crore against Rs 65 crore. "Business origination expenses" showed a marked increase to Rs 10.41 crore compared with Rs 3.93 crore previously.

The press release says that loan disbursements during the quarter increased to Rs 557 crore from Rs 300 crore. For the half-year ended September, Cholamandalam made a net profit of Rs 8.30 crore against Rs 23.86 crore in the corresponding period of last year.