LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

L&T Finance Q2 net profit jumps 66 pc to Rs 560 cr

L&T Finance Holdings (LTFH) Ltd Wednesday reported a rise of 66 per cent in net profit at Rs 560 crore for the second quarter ended September 2018. The company had posted a net profit of Rs 338 crore in the corresponding July-September period of 2017-18.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
L&T Finance Q2 net profit jumps 66 pc to Rs 560 cr
The company had posted a net profit of Rs 338 crore in the corresponding July-September period of 2017-18. Image courtesy: Reuters
Written By: PTI
Updated: Thu, Oct 25, 2018
11:45 am
PTI
RELATED NEWS
L&T’s defence orderbook stands at Rs 9,500 crore: Jayant D Patil, Wholetime Director (Defence) L&T’s defence orderbook stands at Rs 9,500 crore: Jayant D Patil, Wholetime Director (Defence)
L&T logs 6.5% fall in Q4 net profit at Rs 3,197 cr L&T logs 6.5% fall in Q4 net profit at Rs 3,197 cr
Shares to buy: L&T stocks may make you rich by 19% ahead on D-Street - Consider this case Shares to buy: L&T stocks may make you rich by 19% ahead on D-Street - Consider this case
L&T Q1FY20: PAT increases by 21.2% YoY to Rs 1,473 crore, new orders worth Rs 38,000 cr won L&T Q1FY20: PAT increases by 21.2% YoY to Rs 1,473 crore, new orders worth Rs 38,000 cr won
L&T Construction bags orders worth Rs 2,357 crore L&T Construction bags orders worth Rs 2,357 crore

New Delhi: L&T Finance Holdings (LTFH) Ltd Wednesday reported a rise of 66 per cent in net profit at Rs 560 crore for the second quarter ended September 2018. The company had posted a net profit of Rs 338 crore in the corresponding July-September period of 2017-18.

"Having achieved a RoE of 18.45 per cent in Q1FY19, LTFH has maintained its profitability with 18.47 per cent RoE in Q2FY19. This has been achieved on the back of strong NIMs plus fee income, strict control on cost and improved asset quality," the company said in a release.

Total income in the quarter under review rose to Rs 3,326.04 crore in 2018-19, up from Rs 2,609.65 crore a year ago. The company said it is comfortably placed with respect to both liquidity and interest rate risks due to its robust asset-liability management (ALM), strong risk management framework and proactive actions.

"Enabled by the strength of our business model and a robust risk management framework, we have successfully overcome multiple headwinds during the past two years.  "Our prudent asset liability management has ensured that our average borrowing cost is well in control despite hardening of interest rates," said Dinanath Dubhashi, Managing Director and CEO, LTFH.

Watch this Zee Business video here:

He said the company over the last two years has successfully steered its portfolio towards retailisation, with a rapid increase in rural and housing loan book. 

The company offers financial products and services across rural, housing and wholesale finance sectors, as well as mutual fund products and wealth management services, through its wholly-owned subsidiaries.  Stock of the company closed 3.60 per cent up at Rs 126.60 on BSE. 

 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Larsen & Toubro (L&T)
RELATED NEWS
L&T’s defence orderbook stands at Rs 9,500 crore: Jayant D Patil, Wholetime Director (Defence) L&T’s defence orderbook stands at Rs 9,500 crore: Jayant D Patil, Wholetime Director (Defence)
L&T logs 6.5% fall in Q4 net profit at Rs 3,197 cr L&T logs 6.5% fall in Q4 net profit at Rs 3,197 cr
Shares to buy: L&T stocks may make you rich by 19% ahead on D-Street - Consider this case Shares to buy: L&T stocks may make you rich by 19% ahead on D-Street - Consider this case
L&T Q1FY20: PAT increases by 21.2% YoY to Rs 1,473 crore, new orders worth Rs 38,000 cr won L&T Q1FY20: PAT increases by 21.2% YoY to Rs 1,473 crore, new orders worth Rs 38,000 cr won
L&T Construction bags orders worth Rs 2,357 crore L&T Construction bags orders worth Rs 2,357 crore

LATEST NEWS

Cipla shares hit new high; Sharekhan pegs target at Rs 1100 as Pharma giant doubles Remdesivir production

India's Forex reserves: MASSIVE surge in gold reserves; despite Covid 19 'peak', overall fund up by $4.34 billion this quarter

SSC CGL Result 2018 released on ssc.nic.in: Steps to check and download explained

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range; says global markets, Q4 results to drive street

Ten states/UTs account for 79.32 pc of new COVID-19 cases: Health ministry

Rajini, Kamal, Mohanlal and many others mourn Vivek's demise

IBPS admit card 2021 released—here is how you can download it from official website ibps.in

Vivek, Tamil actor and comedian, passes away at 59 in Chennai hospital

West Bengal election 2021: LIVE UPDATES: 69.40% voter turnout recorded till 4:13 pm

SpaceX wins $2.9bn NASA contract to build moon lander

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved