L&T Fin Holdings' Q2 net profit jumps 46% at Rs 595 crore
economictimes.indiatimes.comnet profit at '595 crore in the second quarter of FY24, up 46% year-on-year, riding on strong disbursals of retail loans.
The company recorded its highest ever quarterly retail disbursements of '13,499 crore, up 32%, on strong growth across retail segments enabled by digital and data analytics. Retail portfolio mix now stands at 88% of the total loan book against the company's target of 80% by 2026.
Consequently, the company's wholesale book reduced by 76%, or Rs 28,740 crore.
CEO Dinanath Dubhashi said the company will continue its strategy of strongly growing the retail asset book on one side and sharply reducing its wholesale book on the other.
«We strongly believe that the retail segment holds promising opportunities, and we will continue to grow and ride this growth by scaling up our product portfolio, customer touchpoints, capability enhancements, and use of data analytics in doing business,» Dubhashi said.
