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  1. L&T Finance Holdings Q1 net rises 15% at Rs 192 crore

L&T Finance Holdings Q1 net rises 15% at Rs 192 crore

L&T Finance Holdings (L&TFH), Financial services arm of L&T, today reported a 15 per cent rise in net profit at Rs 192 crore...

By: | New Delhi | Published: July 23, 2015 9:40 PM

L&T Finance Holdings (L&TFH), Financial services arm of L&T, today reported a 15 per cent rise in net profit at Rs 192 crore during the first quarter ended June 2015.

The company had posted a consolidated net profit of Rs 167 crore in the same period last fiscal.

“The operating performance has continued to remain strong with healthy margins, steady fee income and stable opex,” it said in a release.

Its loans and advances as on June 30 grew by 21 per cent to Rs 49,219 crore as compared to Rs 40,764 crore in the year-ago period, it added.

“Growth in profits has been a result of consistent and steady improvement in key operating parameters along with stabilisation in overall asset quality,” said Y M Deosthalee, Chairman, L&T Finance Holdings.

Shares of L&T Finance Holdings closed 1.99 per cent lower at Rs 71.55 apiece on the BSE today.

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