New Delhi, Jul 19 (PTI) L&T Finance Holdings Ltd (LTFH) on Tuesday reported a 47 per cent rise in net profit at Rs 261 crore for the quarter ended June 2022 on the back of its highest-ever quarterly retail disbursements.
The non-banking financial company had posted a net profit of Rs 177 crore in the quarter ended June 2021.
Total income during the April-June period of FY 2022-23 was slightly up at Rs 3,135.80 crore as against Rs 3,115. 71 crore in the year-ago quarter, it said in a regulatory filing.
LTFH said there was an accelerated retailisation momentum powered by fintech at scale.
The company witnessed its highest-ever quarterly retail disbursements at about Rs 8,938 crore, up 10 per cent from the previous quarter and 148 per cent from the year-ago period, it added.
Dinanath Dubhashi, Managing Director and CEO, L&T Finance Holdings, said, "Retail disbursements are at an all-time high. Our retail portfolio mix has reached 54 per cent. We have disbursed at a monthly run rate of around Rs 1,300 crore in the rural business loans segment, while hitting new milestones in consumer loans and home loans."
The consumer loans disbursements were at Rs 1,010 crore in Q1 FY23.
Retail housing disbursements stood at Rs 936 crore, led by a significant uptick from its revamped offerings and sourcing through select market channels, LTFH said.
Stock of the company ended at Rs 72.40 apiece on BSE, up 0.56 per cent from the previous close.