L&T Finance Holdings posts 45 pc increase in Q2 profit

L&T Finance Holdings (LTFH) today said its consolidated profit increased to Rs 360 crore for quarter ended September 2017, registering a growth of 45 per cent year-on-year.

This growth in profit after tax has been achieved after taking accelerated credit cost of Rs 277 crore, the company said in a regulatory filing.

The company had posted a profit of Rs 248 crore in July- September quarter of 2016-17.

Its Gross Non-Performing Asset (GNPA) increased marginally to 5.8 per cent of gross advances in the second quarter of the current fiscal as compared to 5.71 per cent in the year-ago period.
 

The net NPA stood flat at 3.31 per cent on yearly basis.

LTFH is a holding company offering a range of financial products and services across rural, housing and wholesale finance sectors, as well as mutual fund products and wealth management services, through its wholly-owned subsidiaries.

LTFH's shares last traded at Rs 196.45 apiece on BSE, up 0.10 per cent over yesterday.