L&T Finance Holdings Ltd today reported a 42 per cent rise in its consolidated net profit to Rs 384 crore for the third quarter ended December 31.
The company had posted a net profit of Rs 271 crore in the same period of the previous fiscal.
Profit was mainly driven by robust growth in its rural lending and housing finance business, the company said in a BSE filing.
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While rural lending grew 48 per cent in third quarter of the current financial year, housing finance business grew by 49 per cent, it added.
The company's gross non-performing assets stood at 5.49 per cent of loan book in the quarter under review compared to 9.01 per cent during the same quarter last fiscal.
Average assets under management (AAUM) in investment management business increased to Rs 60,313 crore in December quarter this financial year as against Rs 35,191 crore in the same period a year ago.
Likewise, average assets under service (AAUS) in wealth management business increased to Rs 17,330 crore in December quarter from Rs 11,471 crore in the corresponding period year-ago period.
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