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L&T Finance Holdings reported a 42 per cent jump in third quarter consolidated net profit at ₹384 crore against ₹271 crore in the year-ago period.
The bottomline was supported by robust growth in loans as well as profitability from rural, housing and wholesale lines of business.
Revenue from operations increased 26 per cent year-on-year (y-o-y) to ₹2,630 crore. Fee and other income put together jumped 93 per cent to ₹355 crore. Total expenses rose 25 per cent to ₹2,253 crore. Overall loan book rose 23 per cent to ₹75,963 crore.
Dinanath Dubhashi , Managing Director and CEO, said: “We have a plan up to 2020 and we are progressing on that plan. The plan is to go from ROE of 9.5 per cent (in the first quarter of FY16) to high teens (and that is what we have been doing). How we are doing that: We have the right businesses, right structures and right people.”
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