L&T Finance Holdings Ltd (LTFH) today reported 71 per cent rise in net profit to Rs 538 crore in first quarter of the current fiscal.
The company had reported net profit of Rs 314 crore in the April-June quarter of last fiscal, 2017-18.
The profit growth was driven by healthy growth in rural, housing and wholesale business, the company said.
LTFH's total income in the June quarter of 2018-19 increased to Rs 3,178.51 crore, up 31 per cent from Rs 2,427.27 crore in the year-ago period.
In a regulatory filing, LTFH said it also witnessed a strong growth in investment management and wealth management verticals. The average assets under management in investment management increased by 60 per cent from a year ago to Rs 71,118 crore.
The LTFH stock closed 2.85 per cent higher at Rs 155.30 on BSE.
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