L&T Finance Q1 Results: Net profit grows 29% to record Rs 686 crore; NII up 23%
L&T Finance Ltd (LTF) Q1 FY25 Results: Mumbai-headquartered NBFC L&T Finance on Tuesday reported a 29.1 per cent year-on-year jump in its net profit to Rs 685.5 crore for the April-June period.
![L&T Finance Q1 Results: Net profit grows 29% to record Rs 686 crore; NII up 23%](https://cdn.zeebiz.com/sites/default/files/2024/07/16/305204-rupeepexels.jpg?im=FitAndFill=(1200,900))
L&T Finance Ltd (LTF) Q1 FY25 Results: L&T Finance (LTF) on Tuesday reported a record consolidated net profit of Rs 685.5 crore for the April-June period, up 29.1 per cent compared with the corresponding period a year ago.
Its net interest income (NII) - or the difference between interest earned and interest paid - expanded by 23 per cent to Rs 2,020 crore, while revenue from operations grew 17.4 per cent to Rs 3,784.4 crore for the first quarter of the current financial year, according to the company.
The non-banking financial company said its retail disbursements registered a year-on-year increase of 33 per cent to Rs 14,839 crore while realisation grew 95 per cent.
“The results you see for the quarter reflect the success of our five-pillar strategy. The focus is on enhancing customer acquisition through the creation of a robust funnel and contiguous products, sharpening credit underwriting through the deployment of our proprietary digital credit engine, ‘Project Cyclops’, building a futuristic digital architecture to drive innovation, increasing brand visibility through amplified share of voice, and capability building through the recruitment and upskilling of tech talent, which is resulting in robust performance," said Sudipta Roy, Managing Director and CEO, LTF.
L&T Finance logged a 28 per cent jump in rural business finance disbursements to Rs 5,773 crore for the fiscal first quarter, driven by the deepening of the customer acquisition funnel, both horizontally through expansion into newer locations and vertically through increasing the number of customers across existing locations.
Earlier on Tuesday, LTF shares ended 0.8 per cent weaker at Rs 184.3 apiece on BSE.
What does L&T Finance (LTF) do?
LTF provides a range of financial products including farmer finance, rural business finance, two-wheeler finance, personal loans, home loans and loans against property.
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09:45 PM IST