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Business EconomyPosted at: Jan 21 2022 7:49PM


L&T Finance Holdings net up 12 pc in Q3

New Delhi, Jan 21 (UNI) L&T Finance Holdings (LTFH) on Friday reported 12% year-on-year jump in its net profit to Rs 326 crore for the quarter ending December 31, 2021.
The non-banking finance company's total income, however, fell by 11.5% to Rs 3,099.12 crore in the third quarter of FY22 from Rs 3,504.47 crore in the corresponding period of FY21.
Commenting on the quarterly result, L&T Finance Holdings Managing Director & CEO Dinanath Dubhashi said that the period saw businesses returning to pre-Covid levels despite industry degrowth during the festive season.
"In our retail businesses of Farm and Two-Wheeler finance, we maintained business momentum as a leading retail financier with a stable market share owing to our digital & data analytics capabilities. Our Micro Loans business volumes have normalized over Rs 1000 crore/ month and we continue to gain traction in Consumer Loans and Home Loans," he said.
The company in a press release said that it witnessed strong improvement in disbursements and collections in Q3FY22.
"LTFH continued to focus on stated business levers of maintaining prudent liquidity, strengthening the balance sheet, following a data analytics-based collections approach, and rigorous adherence to collection led disbursement strategy," it said.
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