L&T Finance net up 30% to Rs 4.05 bn in Q4, revenue rises to Rs 27.48 bn

Average Assets under Management (AAUM) in Investment Management business grew by 68 per cent to Rs. 659.32 billion at the end of the current financial year

L&T Finance saw a consolidated net profit of Rs 4.05 billion for the quarter ended March 2018,  compared to Rs 3.13 billion in the same quarter a year ago. This was  growth of 30 per cent year-on-year (y-o-y), backed by growth in rural and home finance business. However, wholesale business was affected due to higher provisioning.
 
“The company is in process of cleaning its wholesale book that impacted its overall performance this quarter. Major clean-up exercise will be completed by FY19,” said Chief Executive and Managing Director Dinanath Dubhashi.
 
Revenue from operations during this quarter rose to Rs