Dinanath Dubhashi, MD & CEO of L&T Finance Holdings in an interview to CNBC-TV18 spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, Dinanath Dubhashi, MD and CEO of L&T Finance Holdings spoke about the results and his outlook for the company. “We realise that even we are very competitive in cost of funds etc, net interest margins (NIMs) will always be a losing battle vis-à-vis banks, hence where we need to make money is NIMs plus fees”, he said.
Dinanath Dubhashi, Managing Director, L&T Financial Services is of the view that it‘s a fiscally prudent Budget despite being "expansionary" in right directions.
Speaking to CNBC-TV18 Dinanath Dubhashi, MD, L&T Finance Holding said the company faced a negative impact of demonetisation in the quarter and added that the effects were seen across the sector.
"Healthy profit growth was led by growth in our focused areas -- wholesale, housing and rural finance --, expense optimisation and also due to higher fee income," Managing Director Dinanath Dubhashi said.
L&T Finance reported a 33 percent rise in its consolidated net profit to Rs 216 crore in the July-September quarter supported by healthy growth in assets.
The board of directors of the company at its meeting held on July 22, appointed Dinanath Dubhashi, Deputy Managing Director as the Manging Director of the company and said that Deosthalee, would continue to serve as the Chairman of the company, L&T Finance said in a regulatory filing.
Dinanath Dubhashi has been in the industry for a quarter of a century with experience across multiple domains such as corporate banking, cash management, credit ratings, retail and rural lending.
L&T Finance today tied up with National Collateral Management Services (NCMSL) to provide receipt financing, which involves collateral management and warehousing services, to farmers and small businesses.