L&T Finance Holdings Q4 Results: PAT jumps 47% YoY to Rs 501 crore - Economic Times

L&T Finance Holdings on Friday reported a 47% rise in net profit for the March quarter at Rs 501 crore against Rs 342 crore in the year-ago period.

The net interest margin plus fee for the company was at 9.21% against 8.17%.

"This achievement has been on account of a strong year-on-year YoY growth of 35% in retail book with best-in-class asset quality and a decisive 54% reduction in the wholesale book," company managing director Dinanath Dubhashi was quoted saying in a statement.

The assets under management for the company shrunk to Rs 80893 crore at the end of March from Rs 88341 crore a year back, because of the reduction in wholesale business. The wholesale book saw an accelerated reduction of 54% to Rs 19,840 crore driven mainly by re/pre-payments and refinancing.

Retail book size at Rs 61,053 crore, up 35%. Retail portfolio mix at 75% in the fourth quarter compared with 51% in the year-ago period.

The company said its annual retail disbursements grew 69% year-on-year to Rs 42,065 crore, which is the highest-ever quarterly disbursement.

The net profit from retail operations was Rs 472 crore, up 58% year-on-year due to strong net interest margins.

Adblock test (Why?)

L&T Finance Holdings Q4 Results: PAT jumps 47% YoY to Rs 501 crore - Economic Times
Read More