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
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New Delhi: Larsen and Toubro (L&T) Finance Holdings Ltd on Friday reported a rise of 7.8% in consolidated net profit at Rs.207.4 crore for first quarter ended June.
The company’s consolidated net profit stood at Rs.192.46 crore in the April-June quarter of the previous fiscal.
“Total income (consolidated) has increased to Rs.2,030.73 crore for quarter ended June 2016, from Rs.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 Rs.2.92 crore for the quarter under review, sharply down from Rs.21.67 crore a year ago. Standalone income also fell to Rs.23.46 crore from Rs.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.