Shares of Cholamandalam Investment & Finance Company fell as much as 5% on Thursday, November 6, in response to its September quarter results.

Cholamandalam's asset quality deteriorated on a sequential basis with gross NPA at 4.57% from 4.29% in June, while Net NPA also deteriorated to 3.07% to 2.86% in the previous quarter. These figures are as per the RBI asset classification norms. Provision Coverage Ratio (PCR) for the quarter stood at 33.88% from 34.41% in June.

The company's Gross Stage 3 assets stood at 3.35% from 3.16% in June, while Net Stage 3 assets stood at 1.93% from 1.8% in June, as per the Ind AS norms.

Among other parameters, Net Profit for the period increased by 20% from last year to ₹1,155 crore, which was in-line with the CNBC-TV18 poll projection of ₹1,170 crore.

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