L&T Finance Q3 Profit Jumps 41% to Rs 640 Crore
By Rediff Money Desk, NEWDELHI Jan 23, 2024 22:28
L&T Finance Holdings reports a 41% rise in Q3 net profit to Rs 640 crore, driven by retail loan sales. NII grew 8% to Rs 1,833 crore.
![L&T Finance Q3 Profit Jumps 41% to Rs 640 Crore](https://im.rediff.com/money/2019/jun/25loan.jpg)
New Delhi, Jan 23 (PTI) L&T Finance Holdings on Tuesday reported a 41 per cent jump in net profit to Rs 640 crore for the December quarter, driven by retail loan sales.
The Mumbai-based Non-Banking Financial Company (NBFC) had earned a net profit of Rs 454 crore in the year-ago period.
The Net Interest Income (NII) of the NBFC grew 8 per cent to Rs 1,833 crore as compared to Rs 1,693 crore in the same quarter in the previous year, L&T Finance Holdings Ltd said in a statement.
The company's retail disbursements grew 25 per cent to Rs 14,531 crore.
The company completed the merger of L&T Finance Ltd, L&T Infra Credit Ltd, and L&T Mutual Fund Trustee Ltd with L&T Finance Holdings Ltd in the third quarter, it said.
The Mumbai-based Non-Banking Financial Company (NBFC) had earned a net profit of Rs 454 crore in the year-ago period.
The Net Interest Income (NII) of the NBFC grew 8 per cent to Rs 1,833 crore as compared to Rs 1,693 crore in the same quarter in the previous year, L&T Finance Holdings Ltd said in a statement.
The company's retail disbursements grew 25 per cent to Rs 14,531 crore.
The company completed the merger of L&T Finance Ltd, L&T Infra Credit Ltd, and L&T Mutual Fund Trustee Ltd with L&T Finance Holdings Ltd in the third quarter, it said.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...