Propelled by healthy growth in loan disbursements and other income, L&T Finance Holdings reported a 45 per cent increase in consolidated net profit at ₹360 crore against ₹248 crore in the year-ago period.

The consolidated profit includes the numbers of wholly-owned subsidiaries — L&T Finance, L&T Housing Finance, L&T Infrastructure Finance Company, L&T Investment Management, and L&T Capital Markets. In the reporting quarter, revenue from operations increased by 14 per cent year-on-year (y-o-y) to ₹2,384 crore. Other income shot up 106 per cent to ₹111 crore.

On the expenses side, finance costs grew 12 per cent to ₹1,297 crore. Allowances and write-offs were up 47 per cent to ₹471 crore.

Loan disbursements (excluding IPO financing) jumped 81 per cent to ₹20,239 crore. This includes loans disbursed to the rural, housing and wholesale segments.

The overall book increased 19 per cent to ₹72,348 crore. Average assets under management of the investment management business jumped 61 per cent to ₹52,749 crore. Average assets under service of the wealth management business rose 52 per cent to ₹16,542 crore.

“In the focused businesses, which are our profitable businesses, the disbursement grew 81 per cent. Fee and other income growth is 153 per cent. Operating expenses have grown by just about 4 per cent….The asset quality has improves significantly from last year,” Dinanath Dubhashi, MD and CEO, said. Gross non-performing assets to gross advances ratio improved to 5.80 per cent in the reporting quarter from 9.64 per cent in the year-ago quarter. The company, in its presentation, said the return on equity (ROE) in the current quarter at 15.15 per cent is the highest ever since listing in August 2011. The ROE in the year-ago quarter was 11.72 per cent. The company’s shares closed at ₹196.45 apiece, up 0.10 per cent over the previous close on the BSE.

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