L&T Finance Q2 Results: Net profit rises 46% at ₹595 crore, revenue up 2.7% at ₹3,169 crore

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₹595 crore, which is 46 percent up compared to the same period in the previous year, it said in a regulatory filing on 20 October. In Q2 FY2022-23, the firm had registered a profit of ₹406 crore, it said. The Net interest margin (NIM) of the firm was up 11 percent at ₹1,729 crore in Q2 FY23-24 against ₹1,563 crore in Q2 FY22-23.

Apart from this, the firm said that the revenue was up 2.7 percent at ₹3,169 crore in the September quarter of FY23-24 compared to ₹3,086 crore a year ago in the same period. The firm mentioned that it attained the highest-ever quarterly Retail disbursements at ₹13,499 crore, up 32 percent. The retail book size was also up 33 percent at ₹69,417 crore in the September quarter of FY23-24 compared to ₹52,040 crore a year ago in the same period.

Commenting on the financial results, Mr. Dinanath Dubhashi, Managing Director & CEO, of L&T Finance Holdings Ltd. said, “After having achieved most of our Lakshya 2026 goals, it gives me immense pleasure to announce that we have continued the trajectory of metamorphosizing into a top-notch Retail finance Company.

During the quarter, LTFH not only reached a retail portfolio mix of 88% but also achieved the highest-ever quarterly Retail disbursements of ₹13,499 crore, registering a growth of 32% YoY. This achievement is attributed to the twin strategy of strongly growing the retail asset book on one side and ensuring a sharp reduction in the wholesale book on the other while maintaining best-in-class asset quality." The firm further said, “The Retail portfolio mix now stands at 88% of the total loan book with strong Retail disbursement of Rs. 13,499 crores (up 32% YoY) and Retail book at Rs.