L&T Finance Holdings June quarter net profit rises 47%

The non-banking financial company had posted a net profit of ₹177 crore in the quarter ended June 2021.

Total income of L&T Finance during the April-June period of FY 2022-23 was slightly up at ₹3,135.80 crore as against ₹3,115.71 crore in the year-ago quarter, it said in a regulatory filing.

LTFH said there was an accelerated retailisation momentum powered by fintech at scale.

The company witnessed its highest-ever quarterly retail disbursements at about ₹8,938 crore, up 10% from the previous quarter and 148% from the year-ago period, it added.

Dinanath Dubhashi, Managing Director and CEO, L&T Finance Holdings, said, “Retail disbursements are at an all-time high. Our retail portfolio mix has reached 54 per cent…We have disbursed at a monthly run rate of around ₹1,300 crore in the rural business loans segment, while hitting new milestones in consumer loans and home loans.”

The consumer loans disbursements were at ₹1,010 crore in Q1 FY23.

Retail housing disbursements stood at ₹936 crore, led by a significant uptick from its revamped offerings and sourcing through select market channels, LTFH said.

Stock of the company ended at ₹72.40 a piece on BSE, up 0.56% from the previous close. 

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

First article