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Buoyed by healthy loan growth, L&T Finance Holdings posted 45 per cent growth in net profit for the fourth quarter ended March 31, 2012, at Rs 141 crore (Rs 97 crore).
In the fiscal year ended March 2012, the company's net profit grew 16 per cent to Rs 455 crore (Rs 391 crore).
The Chairman and Managing Director, Mr M. Deosthalee, said: “Despite challenges of continuous GDP revisions, rising interest rates, liquidity problems, and slowdown in infrastructure spending, it has been a good year for us.”
L&T Finance Holdings offers a diverse range of financial products and services across corporate, retail and infrastructure finance sectors. It also offers mutual products and investment management services.
The advances rose by 40 per cent as on March 31, 2012, to Rs 25,017 crore (Rs 17,895 crore).
Gross non-performing assets as on March 31, 2012, stood at 1.8 per cent (2.2 per cent.
In the microfinance sector, the aggregate loan portfolio outside Andhra Pradesh amounted to Rs 134 crore. The exposure in AP was Rs 193 crore, of which, Rs 90 crore has been written off.
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