L&T Finance Holdings has posted a 22 per cent rise in net profit at Rs 171 crore for the January to March quarter this fiscal driven by healthy loans and stable asset quality.
The net profit stood at Rs 141 crore in the year-ago quarter.
As on March 31, 2013, loans and advances grew 30 per cent (year-on-year) to Rs 33,309 crore, according to a release filed with the Bombay Stock Exchange.
For the fiscal ended March 31, 2013, the net profit jumped 61 per cent to Rs 730.5 crore compared with Rs 455 crore last fiscal.
Gross non-performing assets (NPA) as on March 31, 2013 increased to 2.03 per cent from 1.8 per cent last year. Net NPAs stood at 1.26 per cent against 1.17 per cent in the same quarter last year.
For the year ended March 31, 2013, disbursements in construction equipment and commercial vehicle segments witnessed de-growth of 31 per cent and 40 per cent, respectively, the company said.
At 2.45 p.m., the shares of L&T Finance Holdings were trading 0.25 per cent higher at Rs 79.50 per share on the BSE.
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