 "Larsen & Toubro")
L& T Finance Holdings on Friday said its net profit grew 71 per cent to Rs 5.38 billion for the quarter ended June 2018 (Q1), compared to Rs 3.14 billion a year ago. The finance arm of Larsen & Toubro has prepared financial statement for Q1 according to the new accounting rules Indian Accounting Standards, which came into effect from April 1, 2018.
Its loan book comprising rural, housing and wholesale segment grew 27 per cent to Rs 853.80 billion at the end of June 2018.
In line with the new accounting norms, LTFH’s legacy Infrastructure stressed asset portfolio now carries provisions
