Chola sees rise in Q1 profits by 50%

Chennai: Cholamandalam Investment and Finance on Friday announced a 50.3 per cent rise in consolidated profit after tax at 167.09 crore for the first quarter ending June 30. The Murugappa group firm had reported consolidated profit after tax at 111.10 crore during the corresponding quarter a year ago. Consolidated profit after tax for the financial year ending March 31, 2016, stood at 574.65 crore. “The total income from operations for the quarter under review grew to 1,114.81 crore,” the company said in a press release.