L&T Finance Holdings Limited Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended December 31, 2017
January 25, 2018 at 12:58 pm IST
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L&T Finance Holdings Limited announced unaudited consolidated earnings results for third quarter and nine months ended December 31, 2017. For the quarter, the company reported total income from operations was INR 27,010.2 million against INR 21,619.2 million a year ago. Profit before exceptional and extra ordinary items & tax was INR 4,480.4 million against INR 3,582.2 million a year ago. Profit from ordinary activities before tax was INR 4,480.4 million against INR 3,582.2 million a year ago. Net profit from ordinary activities after tax was INR 3,844.6 million against INR 2,271.4 million a year ago. ROE has continued a steady upward trajectory and is now 15.91% for the third quarter of fiscal 2018 against 12.81% in the third quarter of fiscal 2017 and 15.15% last quarter.
For the nine months, the company reported total income from operations was INR 75,615.0 million against INR 63,342.2 million a year ago. Profit before exceptional and extra ordinary items & tax was INR 11,803.6 million against INR 9,933.6 million a year ago. Profit from ordinary activities before tax was INR 11,803.6 million against INR 9,935.6 million a year ago. Net profit from ordinary activities after tax was INR 10,559.4 million against INR 7,285.1 million a year ago.
L&T Finance Limited is an India-based non-banking financial company with presence across the lending business catering to the diverse financing needs of served and underserved customers. It offers personal loans, two-wheeler loans, home loans, rural business loans, farm loans, and small and medium-sized enterprises (SME) loans. It operates in three segments: Retail Business, Wholesale Business, and Defocused Business. Its Retail business comprises of comprises of farmer finance, two-wheeler finance, rural business finance, consumer finance, home loan, loan against property, and SME Finance. Its Wholesale Business comprises of Infrastructure Finance and Real Estate Finance. Its Defocused Business comprises of structured corporate loans, debt capital market, commercial vehicle finance, construction equipment finance, supply chain finance, SME term loans and other discontinued products. It offers a range of insurance product, such as Life Insurance, Health Insurance and General Insurance.