Jobaaj Stories
The financial services arm of infrastructure giant L&T, L&T Finance Holdings (LTFH), reported a 47% YoY growth in its profits for the quarter ending in June 2022.
Profit of the NBFC came in at Rs 261 crores against Rs 177 crores in the corresponding quarter last year. Total income saw marginal growth during the quarter as the figure for the quarter was Rs 3,135.80 crores.
Ambuja Q1 results are live, read more.
The company had its highest ever retail disbursements during the quarter, around Rs 8,938 crores, up 10% sequentially and 148% YoY. Consumer loan disbursements came in at Rs 1,010 crores. Retail housing disbursements were at Rs 936 crores, higher on account of improved offerings and selective sourcing.
The retail loan book registered consistent growth as it was up 19% YoY. Retailisation reached 54% as Net Interest Margin+Fees was at 8.23% on the back of high quarterly disbursements. Capital adequacy stood at 23.12%.
"Retail disbursements are at an all-time high. Our retail portfolio mix has reached 54 percent...We have disbursed at a monthly run rate of around Rs 1,300 crore in the rural business loans segment while hitting new milestones in consumer loans and home loans." said Dinanath Dubhashi, MD & CEO of LTFH.
The stock of the company trades at around Rs 72.15 per share, up 1.5%.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
