Non-bank lender L&T Finance on Friday reported a 29% jump in its June quarter consolidated net profit to ₹ 902 crore compared to ₹ 701 crore in the year-ago period.
L&T Finance Q1 Net Profit Up 29 Pc at ₹902 Cr
The consolidated loan book rose 27% on-year to ₹ 1.29 lakh crore, while retail disbursements rose 36%
L&T Finance Q1 net profit up 29 pc at Rs 902 cr
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The city-headquartered company, promoted by the EPC major L&T, said its net interest margin and fees inched up to 10.47% during the quarter against 10.22% in the year-ago period.
From an asset quality perspective, it reported a notable improvement in the stock of Gross Stage 3 assets to 2.86% from 3.31% in the year-ago period.
Credit costs improved at a sharper 0.89% to 2.54% on the back of improvements in the collections infrastructure and also the deployment of artificial intelligence-led tools, it said.
The consolidated loan book rose 27% on-year to ₹ 1.29 lakh crore, while retail disbursements rose 36%.
Interestingly, the unsecured personal loan disbursements more than doubled to ₹ 4,380 crore during the three months.
Shares of the company closed 0.06% up at ₹ 321.05 apiece on the BSE on Friday.