Consolidated PAT at Rs. 360 cr. – YoY growth of 45%
RoE at 15.15% – Highest ever since listing
L&T Finance Holdings Ltd. (LTFH) declared consolidated profit after tax of Rs. 360 cr. for quarter ended 30th September, 2017 (Q2FY18) – a growth of 45% from Rs. 248 cr. in the same quarter of previous year (Q2FY17). RoE for Q2FY18 was 15.15% as against 11.72% in Q2FY17 – improvement by 343 bps.
LTFH also witnessed strong growth in its Investment & Wealth Management businesses. Average Assets under Management (AAUM) in Investment Management business increased from Rs. 32,667 cr. in Q2FY17 to Rs. 52,749 cr. in Q2FY18 – a growth of 61%. Average Assets under Service (AAUS) in Wealth Management business increased from Rs. 10,890 cr. in Q2FY17 to Rs. 16,542 cr. in Q2FY18 – a growth of 52%.
* At 90 DPD recognition of GNPA
Commenting on the results and financial performance, Mr. Dinanath Dubhashi, Managing Director & CEO, LTFH, said “Strong earnings, continuously improving RoE, and the robust risk guardrails have put LTFH 2.0 on track of “Growing Fearlessly”. While we continue on our path of profitable growth, my endeavor is to make LTFH 2.0 a company that would be hallmarked for delivering predictable, steady, sustained returns to our shareholder.”
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