Non-bank lender, L&T Finance, on April 27, reported a 10.54 percent rise in its consolidated net profit to Rs 553.88 crore in the fourth quarter of the financial year 2023-24.
On a sequential basis, the net profit of L&T Finance fell 13.5 percent.
In the January-March quarter, interest income of the company stood at Rs 3,322 60 crore.
Net Interest Income (NII) of the company in Q4Fy24, was at Rs 1,909 crore, as compared to Rs 1,679 crore. On a yearly basis, it was up 14 percent.
Net Interest Margin plus Fees and Other Income was at 11.25 percent, as compared to 9.21 percent in a year ago period, which was up 204 basis points on-year.
Retail Disbursements of the company in Q4FY24 rose 33 percent on-year to Rs 15,044 crore, as compared to Rs 11,282 crore in a year ago period.
Non-bank lender has completed the retalisation of 94 percent in january-March quarter as compared to original target of below 80 percent.
Retail Book grew 31 percent on-year versus targeted Compound Annual Growth Rate (CAGR) growth rate of 25 percent.
Q4FY24 Consolidated Asset Quality with Gross Stage 3 (GS3) at 3.15 percent and Net Stage 3 (NS3) at 0.79 percent as against the targeted GS3 of <3 percent and NS3 of <1 percent, respectively.
Highest quarterly retail disbursements in Q4FY24 at Rs 15,044 crore, up 33 percent on-year and up 4 percent sequentially (QoQ). Highest annual retail disbursements at Rs 54,267 crore, up 29 percent on-year.
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