CHENNAI: Cholamandalam Investment and Finance Company has reported a 24.5 per cent rise in net profit to Rs 1,065 crore for the March quarter on account of an increase in core business.

The Murugappa Group company had earned a consolidated profit of Rs 855 crore during the corresponding quarter of the previous year. During the quarter, its total income surged to Rs 5,499 crore against Rs 3,835 crore a year ago, Cholamandalam Investment and Finance Company said in a regulatory filing.

Interest income grew to Rs 4,938 crore during the period under review from Rs 3,499 crore in the year-ago period. Total expense rose to Rs 4,071 crore compared to Rs 2,672 crore in the fourth quarter of FY23.