The third quarter net profit of L&T Finance rose marginally to 591 million rupees

NEW DELHI: L&tfinanceholdingsreportedonfridayamarginalincreaseof1.8percentinconsolidatednetprofittors591.47rupeesduringthethirdquarterendeddecember31,2019.


The company's total revenues during the quarter under review increased to Rs 3,735.79 million rupees compared to Rs 3,445 million rupees.

The average asset under management (AUM) increased to Rs 71,587 crore from Rs 69,080 crore in the corresponding quarter of the previous year, the company said in a statement.

NBFCs with a strong affiliation, AAA credit rating and prudent business practices have stood out and affirmed their strength over the past year ... we have demonstrated consistent performance in our focused businesses while developing our inherent strengths to ensure better performance than the industry when demand increases. above, said the managing director of L&T Finance Holdings, Dinanath Dubhashi.

The company raised more than Rs 10,000 crore in long-term loans in the third quarter, the largest quarterly loan since 2016-17, he said.

L&T Finance Holdings is an arm of the engineering firm Larsen&Toubro.