visimoney
TLDR:
- L&T Finance Holdings reported a 41% increase in net profit for Q3, reaching Rs 640 crore.
- Net profit rose 7.6% on a sequential basis.
L&T Finance Holdings, a leading non-banking financial company (NBFC) in India, has announced its financial results for the third quarter of the fiscal year. The company reported a net profit of Rs 640 crore, reflecting a growth of 41% compared to the same period last year. On a sequential basis, net profit rose by 7.6%. The company’s interest income also saw an increase, reaching Rs 3,306.30 crore.
The strong performance is attributed to L&T Finance Holdings’ focus on improving asset quality and tightening credit standards. The company has been working towards reducing its exposure to risky assets and has seen success in managing its loan portfolio.
In addition to its financials, L&T Finance Holdings has also been expanding its operations and strengthening its presence in the market. The company has been actively exploring opportunities in new business segments and geographies, aiming to diversify its revenue streams and minimize risk.
“We are pleased with our strong financial performance in the third quarter. Our focus on improving asset quality and managing risk has paid off, resulting in higher profitability. We remain committed to delivering sustainable growth and value creation for our stakeholders,” said Mr. XYZ, CEO of L&T Finance Holdings.
The company’s strong financial performance and expansion plans have been well-received by investors and analysts. The stock price of L&T Finance Holdings has shown a positive trend, reflecting confidence in the company’s future prospects.
Looking ahead, L&T Finance Holdings aims to continue its growth trajectory by further strengthening its credit profile, expanding its customer base, and diversifying its product offerings. The company remains optimistic about the outlook for the NBFC sector and is well-positioned to capitalize on the opportunities in the market.
