TI profit after tax touches Rs 2.43 crore

It has adopted Indian Accounting Standards (Ind AS) for FY 19 with Ind AS compliant comparatives for FY 18. Accordingly, figures for the previous periods / year have been recast and reviewed by the statutory auditors as per the new accounting standards. 

For the quarter ended June, its standalone profit after tax was Rs 2.43 cr against a loss of Rs 0.34 cr in the corresponding quarter of the previous year. Cholamandalam Investment & Finance Company Ltd, in which the company holds 46.2% stake, disbursed Rs 7,014 cr in the quarter against Rs 4,853 cr in the corresponding quarter of the previous year.