Chola Investment posts Rs 1,186 cr net profit

Chennai, April 27 (IANS) The Cholamandalam Investment and Finance Company Ltd (Chola Investment) has claimed to have closed the last financial year (FY19) with a net profit of Rs 1,186 crore.In a statement here on Saturday, the company said the board of directors has recommended a final dividend of 20 per cent, Rs 2 per equity share, for the year ending March 31, 2019. This, along with the interim dividend, takes the total dividend to 65 per cent, Rs 6.50 per share, for FY19.According to the statement, for the year under review, the company earned Rs 6,993 crore, up from Rs 5,480 crore earned during 2017-18. In FY19 the company had posted Rs 1,186 crore net profit, up from Rs 918 crore logged in FY18.The board also recommended sub-division of equity shares of Rs 10 each to five shares of Rs 2 each.
--IANS vj/mag/pcj