L & T Finance Holdings Limited Financial Performance for the quarter ended 30th June, 2013 Consolidated Profit for the Quarter grows by 20.0% Tuesday, 23rd July, 2013, Mumbai:
L & T Finance Holdings (L & TFH) recently released details of their financial performance for the quarter ended 30th June, 2013.
Highlights of the quarter:
· Healthy growth in assets: Loans & Advances as on 30th June 2013 grew by 31.1% year on year to Rs. 34,337.2 Cr. and by 3.1% as compared to Rs. 33,309.9 Cr as on 31st March 2013.
· Growth in Profit after Taxes (PAT): The growth in PAT was driven by the continued momentum in the Retail Finance Business. The Consolidated PAT for the quarter grew by 20.0% y-o-y to Rs. 144.9 Cr. For the lending businesses the Consolidated PAT for the quarter grew by 20.2% y-o-y to Rs 152.8 Cr.
· Asset Quality: The uncertain macro environment resulted in an increase in Gross NPA, contributed mainly by the corporate, infrastructure and SME segments. Gross NPAs stood at 2.54% of loan assets as on 30th June 2013 as compared to 2.03% as on 31st Mar 2013. Net NPAs stood at 1.67% of loan assets as on 30th June 2013 as compared to 1.26% as on 31st Mar 2013.
· Other Highlights:
o The Investment Management business had a strong quarter. The Average Assets under Management (AAUM) grew to Rs. 13,781.5 Cr., registering an increase in market share from 1.4% in Q4FY13 to 1.6% in Q1FY14.
D.G.JAISHANKAR
ADFACTORS PR
94440 - 36340
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