L&T Finance Holdings reported a 28.3 percent increase in its consolidated net fourth-quarter fiscal result to $ 342.24 from $ 266.85 a year ago.
Its net profit for 2021-2022 increased 10.21 percent to 1,070.11 crore ₹ from 970.94 crore in 2020-21.
For the quarter ending March 31, 2022, total revenue from operations decreased by 11.3 percent to INR 2,946.78, compared to INR 3,322.55 a year ago.
Total payments during the quarter to retail companies grew by 22 percent year-on-year to DKK 8,105 million. INR.
“Financing of agricultural equipment, two-wheeled financing and consumer loans that achieve all-time high annual payments,” it said in a statement Friday.
The total loan book decreased 6 percent year-on-year to ₹ 88,341 crore on March 31, 2022, with the wholesale business registering a decrease of 17 percent year-on-year to ₹ 41,731 crore.
At the end of the quarter, gross step 3 in absolute numbers amounted to 3,249 crore. In percentage terms, the company’s gross step 3 and net phase 3 assets accounted for 3.8 percent and 2 percent, respectively, with PCR on phase 3 assets of 48 percent.
Dinanath Dubhashi, CEO and CEO of L&T Finance Holdings, said: “LTFH’s results this quarter reflect our continued focus on our stated strategy of retailing our business mix. Retail payments are at a record high due to sustained focus on our business strengths as well as deep integration of data analysis in our decision-making process, ”he said.
The continued recovery in existing products and increased traction in new products bodes well in the company’s plans to become a retail financing company with over 80 percent retail book in 2026, ”he continued.
April 29, 2022