L&T Finance Holdings posts 28% jump in Q4 profit at Rs406 crore

Mumbai: L&T Finance Holdings Ltd (LTFH) on Thursday reported a 28% jump in its fiscal fourth quarter consolidated net profit at Rs406 crore. The profitability was supported by healthy loan growth and improvement in asset quality.

Total income for the quarter grew to Rs1,440 crore, 32% higher from the previous year.

Loans grew to Rs83,654 crore as on 31 March from Rs66,648 crore a year ago.

Within the total book, rural and housing finance grew 64% and 51%, respectively.

LTFH also reported a fall in gross non-performing assets (NPAs) ratio to 4.80% at the end of March from 5.49% a quarter ago.