L&T Finance records Rs 3,415.53 crore total income for March quarter

L &T Finance Holdings Q4 results: L & T Finance Holdings on Friday announced its Q4 results, clocking a rise of 58.1 per cent in profits at Rs 492.6 crore on a year on year basis, against Rs 312 crore of the corresponding period. Net interest income (NII) jumped 12.8 per cent at Rs 1740.2 crore on a year on year basis against Rs 1542.6 crore in the corresponding period last year.

The company's total revenue from operations for the March quarter was Rs 3,215.96 crore, down from Rs 3,432.49 crore in the December quarter. However, it was up from Rs 2,946.78 crore in the corresponding quarter last year. On a year-on-year basis, it was Rs 12,774.95 crore. 

The company's total income for the March quarter was Rs 3,415.53 crore against Rs 3,491.09 crore in the December quarter. On a y-o-y basis, it was Rs 13,301.70 crore.    

The share price of L & T Finance saw a rise of 1.87 per cent as it closed the day at Rs 92.55.   

The financial year also saw the highest annual retail disbursements of Rs 42,065 crore, triggered by strong growth across all retail segments, which, in turn, was an accelerated reduction in wholesale book by 54 per cent to Rs 19,840 crore.

The company announced that its net income from the retail book was Rs 1,384 crore, up 87 per cent for the year and Rs 472 crore in the reporting quarter, a rise of 20 per cent year-on-year.

Lower cost of funds had the company booking strong net interest margins at 11.54 per cent for FY23 and 11.87 per cent for Q4.

The company said that its consolidated net income rose 52 per cent to Rs 1,623 crorefor the full year, as its retail portfolio rose to 75 per cent of the total loan book