Money & Banking

L&T Fin Q3 net profit up at ₹591 crore

Our Bureau Mumbai | Updated on January 17, 2020 Published on January 17, 2020

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L&T Finance Holdings reported a near two per cent increase in consolidated net profit in the third quarter of the fiscal. Its net profit rose to ₹591.47 crore in the quarter ended December 31, 2019, against ₹580.46 crore in the same period a year ago.

Its total income grew by nearly nine per cent to ₹3,735.79 crore in the third quarter of the fiscal against ₹3,445 crore a year ago. Total lending book increased by five per cent to ₹99,453 crore in the October to December 2019 quarter against ₹ 94,711 crore a year ago.

Its total focussed group consisting of the three segments of rural finance, housing finance and infrastructure finance grew 14 per cent to ₹93,956 crore in the third quarter of the fiscal, while the defocussed lending businesses (including structured finance and DCM) declined by 55 per cent to ₹5,497 crore in the quarter under review. “We have shown consistent performance across our focussed businesses while building our inherent strengths to ensure better-than-industry performance when demand picks up,” said Dinanath Dubhashi, Managing Director and CEO, LTFH.

Published on January 17, 2020
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