L&T Finance Holdings Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 24, 2017 at 02:08 pm IST
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L&T Finance Holdings Limited announced unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, on consolidated basis, the company reported income from operations of INR 20,939.9 million compared with INR 18,198.1 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 14,504.5 million compared with INR 12,963.3 million for the same period a year ago. Profit from ordinary activities before tax was INR 3,582.2 million compared with INR 3,259.1 million for the same period a year ago. Net profit after minority interest and share of profit of associates was INR 2,708.9 million or INR 1.37 per diluted share before and after extraordinary items compared with INR 2,119.7 million or INR 0.92 per diluted share before and after extraordinary items for the same period a year ago.
For the nine months, the company reported income from operations of INR 61,780.3 million compared with INR 53,308.2 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 43,064.2 million compared with INR 37,860.6 million for the same period a year ago. Profit from ordinary activities before tax was INR 9,935.6 million compared with INR 9,184.1 million for the same period a year ago. Net profit after minority interest and share of profit of associates was INR 7,263.5 million or INR 3.57 per diluted share before and after extraordinary items compared with INR 6,198.4 million or INR 2.70 per diluted share before and after extraordinary items for the same period a year ago.
For the quarter, the parent company reported income from operations of INR 114.3 million compared with INR 1,905.8 million for the same period a year ago. Profit from operations before other income, finance cost and exceptional items was INR 52.6 million compared with INR 1,810.2 million for the same period a year ago. Profit from ordinary activities before tax was INR 36.3 million compared with INR 1,971.2 million for the same period a year ago. Net profit was INR 116.7 million or INR 0.08 loss per basic and diluted share before and after extraordinary items compared with INR 1,971.2 million or INR 0.90 per basic and diluted share before and after extraordinary items for the same period a year ago.
For the nine months, the parent company reported income from operations of INR 381 million compared with INR 3,346.3 million for the same period a year ago. Profit from operations before other income, finance cost and exceptional items was INR 186.8 million compared with INR 3,124.7 million for the same period a year ago. Profit from ordinary activities before tax was INR 120.1 million compared with INR 3,522.6 million for the same period a year ago. Net profit was INR 198.1 million or INR 0.33 loss per basic and diluted share before and after extraordinary items compared with INR 3,618.6 million or INR 1.40 per basic and diluted share before and after extraordinary items for the same period 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.
L&T Finance Holdings Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016