L&T Finance Holdings Limited (LTFH) on Tuesday reported a 47% rise in net profit 261 crore on the back of its highest quarterly retail disbursements for the quarter ended June 2022.
Non-Banking Financial Company had posted a net profit of 177 crore in the quarter ended June 2021.
total income of L&T Finance was slightly up during the April-June period of FY 2022-23 3,135.80 crore as against 3,115.71 crore in the year-ago quarter, it said in a regulatory filing.
LTFH said there was an accelerated retailing momentum driven largely by fintechs.
The company saw its highest ever quarterly retail disbursements at approx. 8,938 crore, up 10% from the previous quarter and 148% over the year-ago period.
Dinanath Dubhashi, Managing Director and CEO, L&T Finance Holdings“Retail disbursements are at an all-time high. Our retail portfolio mix has reached 54 per cent… We have disbursed at an almost monthly run rate. 1,300 crore in the rural business loan segment, hitting new milestones in consumer credit and home loans.
Consumer loan disbursements were 1,010 crore in Q1 FY23.
Retail housing stood on distribution 936 crore, LTFH said, on account of significant growth from its revised offerings and sourcing through select market channels.
The company ended on stock 72.40 per piece on the BSE, up 0.56% from the previous close.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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