L&T Finance Q3 Profit Jumps 41% to Rs 640 Crore
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.
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.
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