Cholamandalam DBS Finance increases revenues and profit

Chennai: Cholamandalam DBS Finance Limited has logged revenue of Rs168 crore during the first quarter of FY08 as against Rs61 crore earned during the same period the previous fiscal.

Disbursements during the period under review were Rs995.70 crore.

The company posted a growth of 132 per cent in total disbursements during the period April - June 2007 over the corresponding period of the previous year. The disbursements were at Rs995.7 crore, up from Rs428.52 crore during the same period last year. The disbursements of vehicle finance grew by 39 per cent over the previous year and the rest of the growth was from the new businesses of personal loans and home equity.

Profit before tax (PBT) increased to Rs13.2 crore as compared to Rs5.52 crore during the same period in the year 2006. Profit after tax (PAT) stood at Rs8.36 crore as compared to Rs3.53 crore during the same period in the year 2006. The growth in profits is after accounting for all expenses of the new business of personal loans and home equity loans.

According to managing director Atul Pande, the changing product mix is having a positive impact on the revenue flow of the company. The company today is acquiring more than 20,000 new customers every month across all its product categories.