L&T Finance quarterly net up 20% on retail lending
25 July 2013 4:13 AM IST
L&T Finance Holdings, financial services arm of Larsen & Toubro, on Tuesday posted 20 per cent rise in consolidated net profit at Rs 144.9 crore for the first quarter ended 30 June, 2013, driven by higher lending to the retail segment. It had posted consolidated net profit of Rs 120.6 crore in the April-June quarter of last fiscal, L&T Finance said in a statement.
The total income during the period rose to Rs 1,183.06 crore from Rs 914.04 crore in the same period a year ago. As of 30 June, 2013, the company's portfolio quality deteriorated further, with gross non-performing assets rose to 2.54 per cent of advances as against 1.63 per cent in the same quarter of FY13 It’s net non-performing assets (NPA) also rose to 1.67 per cent from 1.17 per cent.
The total income during the period rose to Rs 1,183.06 crore from Rs 914.04 crore in the same period a year ago. As of 30 June, 2013, the company's portfolio quality deteriorated further, with gross non-performing assets rose to 2.54 per cent of advances as against 1.63 per cent in the same quarter of FY13 It’s net non-performing assets (NPA) also rose to 1.67 per cent from 1.17 per cent.
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