September 24, 2022

eastwindla

Make Somone Happy

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

2 min read

[ad_1]

L&T Finance Holdings Ltd (LTFH) on Tuesday reported a 47% rise in net profit at 261 crore for the quarter ended June 2022 on the back of its highest-ever quarterly retail disbursements.

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.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

[ad_2]

Source link