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L&T Finance Holdings (LTFH) reported a 28 per cent increase in consolidated net profit at ₹271 crore in the third quarter ended December 31, 2016, on the back of healthy growth in housing finance and rural finance businesses and cost optimisation.
The consolidated net profit in the year-ago period was ₹212 crore.
As at December-end 2016, the overall loan book grew 10 per cent year-on-year (y-o-y) to ₹61,970 crore from ₹56,119 crore as at December-end 2015.
Within the overall loan book, the focussed business portfolio (comprising rural finance, housing finance and wholesale finance) grew 15 per cent y-o-y to ₹58,790 crore, while the de-focussed products portfolio (including cars, three-wheelers, commercial vehicles, diesel generator sets, leasing and receivable discounting) de-grew 39 per cent to ₹3,180 crore.
In the investment management business, the average assets under management for the quarter grew 40 per cent y-o-y to ₹35,191 crore. In the wealth management business, the average assets under service went up 37 per cent y-o-y to ₹11,471 crore. The cost-to-income ratio came down to 25 per cent in the reporting quarter, from 30 per cent in the year-ago quarter.
Gross non-performing assets edged down a tad to 4.85 per cent of total assets in the reporting quarter from 4.97 per cent.
Shares of LTFH closed at ₹98.15 apiece, up 3.86 per cent over the previous close on the BSE.
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