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Business News/ Companies / L&T Finance Holdings Q1 net rises 8% to Rs207 crore
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L&T Finance Holdings Q1 net rises 8% to Rs207 crore

On a standalone basis, the firm posted a net profit of Rs2.92 crore in the June quarter, sharply down from Rs21.67 crore a year ago

Photo: BloombergPremium
Photo: Bloomberg

New Delhi: Larsen and Toubro (L&T) Finance Holdings Ltd on Friday reported a rise of 7.8% in consolidated net profit at 207.4 crore for first quarter ended June.

The company’s consolidated net profit stood at 192.46 crore in the April-June quarter of the previous fiscal.

“Total income (consolidated) has increased to 2,030.73 crore for quarter ended June 2016, from 1,758.40 crore for the year ago quarter," the company said in a filing.

On a standalone basis, the company posted a net profit of 2.92 crore for the quarter under review, sharply down from 21.67 crore a year ago. Standalone income also fell to 23.46 crore from 27.44 crore in the year-ago period.

L&T Finance Holdings is a financial holding firm that offers financial services across the rural, housing and wholesale finance.

Besides, it sells mutual fund products, wealth management services through its subsidiaries. It is promoted by engineering and construction major L&T.

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Published: 23 Jul 2016, 12:15 AM IST
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