L&T Finance Q2 net rises 19% to Rs 215 crore

L&T Finance Holdings’ consolidated net profit rose by 18.6 per cent year-on-year to Rs 215.41 crore during the second quarter ended September 2015. The company’s consolidated net profit was at Rs 181.64 crore in the July-September quarter of 2014-15. Total income increased to Rs 1,837.53 crore during the quarter under review, from Rs 1,586.61 crore in the same period a year ago. 

“Growth in profits has been a result of consistent and steady improvement in key operating parameters along with stabilisation in the overall asset quality in the lending business and positive contribution by the asset management business,” the company said.

Its loans and advances as on September 30, 2015, grew by 19 per cent to Rs 50,986 crore compared with Rs 42,762 crore a year ago.