L&T Finance Holdings Limited on Friday reported a net profit before tax of Rs 452 crore for the quarter ended December 31, 2021, up 29 percent year-on-year and 41 percent quarter-on-quarter. In its quarterly earnings report, the company reported that its net profit after tax was at Rs 326 crore, up 12 percent YoY & 46 percent QoQ.
The company said it maintained strong business momentum backed by inherent business strengths and accelerated retailisation momentum.
According to the report, the company had all-time high retail quarterly disbursements of around Rs 7,600 crore, an increase of 29 percent YoY, while its retail portfolio mix was at 50% (up from 40% in Q3FY21).
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The company also reported an a 4 percent QoQ increase in its retail book and added that its rural business was now the largest lending segment, comprising 38 percent of its lending book--showcasing a 12 percent YoY growth.
In the report, the company said it continued to scale up its consumer loan business--Rs 650 crore was disbursed in Q3FY22, and launched end-to-end digital SME loans. Its total lending book stands at Rs 1,00,99 crore, up from Rs 85,552 crore in Q2FY22.
Adding that it had adequate additional provisions of Rs 1,699 crore--2.19 percent of standard assets--and is poised for medium to long-term growth on the back of a strengthened balance sheet. The company added that its sapital adequacy improved to 24.1 percent.
First Published: IST