L&T Finance Holdings' consolidated PBT declines 39.15% in Q4FY20

Referring to loan growth, the company said the impact of Covid-19 on the book was mainly to the extent of reduction in disbursements post lockdown in March

L&T Finance Holdings Ltd’s (LTFH) consolidated profit before tax dipped by 39.15 per cent to Rs 455.94 crore for the fourth quarter ended March, 2020 (Q4Fy20) on additional provisions made to deal with the effect of the Covid-19 pandemic.

The company had posted pre-tax profit of Rs 749.36 crore in January-March 2019 (Q4Fy20). The figures are for consolidated balance sheet as the BSE-listed entity acts as a holding entity for operating companies.

The net profit for the reporting quarter were down to Rs 384.86 crore from Rs 552.12 crore in Q4Fy19.