L&T Finance Holdings says Q4 net profit down 30% on one-time expenses

Quarter continued to see economic recovery across sectors led by rural and infrastructure space, company says.

L&T Finance Holdings Ltd (LTFH) on Friday reported a 30.9 per cent drop in consolidated net profit at Rs 265.97 crore for the quarter ended March 2021 (Q4 FY21). Profits were down due to one-time exceptional expenses like stamp duties for merger of subsidiaries and provisions for tax claims on Infra Debt Fund, said the company.

The company had posted consolidated net profit of Rs 384.86 crore in fourth quarter ended March 2020 (Q4 FY20). Its annual net profit for FY21 declined to Rs 948.88 crore from Rs 1,700.26 crore in FY 21. On Thursday, its stock closed 2.18 per cent