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Rural demand for LCVs strong; NPAs may peak in Q3: Cholamandalam Finance

Updated : October 30, 2020 11:04 AM IST

Cholamandalam Investment reported decent numbers for the September quarter. Disbursals rose 80 percent quarter-on-quarter (QoQ). Net interest margins improved sharply due to most customers paying their interest dues. Total assets under management too has risen.

D Arul Selvan, Executive Vice President & CFO at Cholamandalam Investment and Finance said, “We were able to capitalise on our product strength as well as our geographical spread because we are more into rural space and that has helped us with higher disbursals.”

He further added, “We see the demand coming back in the festival season this quarter, but we need to see how sustain it will be going forward post the festival season.”

Talking about vehicle business he said, “Light commercial vehicle there is a pick up. There is good demand in the rural for mini and the light commercial vehicles because of e-commerce is picking up.”

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