Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

L&T Finance Q2 Net Profit Jumps 66 Percent to Rs 560 Crore

The company had posted a net profit of Rs 338 crore in the corresponding July-September period of 2017-18.

PTI

Updated:October 25, 2018, 11:06 AM IST
facebookTwitterskypewhatsapp
L&T Finance Q2 Net Profit Jumps 66 Percent to Rs 560 Crore
File photo of L&T's logo. (Image: Reuters)
Loading...

New Delhi: L&T Finance Holdings (LTFH) Ltd on Wednesday reported a rise of 66 per cent in net profit at Rs 560 crore for the second quarter ended September 2018.

The company had posted a net profit of Rs 338 crore in the corresponding July-September period of 2017-18.

"Having achieved a RoE of 18.45 per cent in Q1FY19, LTFH has maintained its profitability with 18.47 per cent RoE in Q2FY19. This has been achieved on the back of strong NIMs plus fee income, strict control on cost and improved asset quality," the company said in a release.

Total income in the quarter under review rose to Rs 3,326.04 crore in 2018-19, up from Rs 2,609.65 crore a year ago.

The company said it is comfortably placed with respect to both liquidity and interest rate risks due to its robust asset-liability management (ALM), strong risk management framework and proactive actions.

"Enabled by the strength of our business model and a robust risk management framework, we have successfully overcome multiple headwinds during the past two years.

"Our prudent asset liability management has ensured that our average borrowing cost is well in control despite hardening of interest rates," said Dinanath Dubhashi, Managing Director and CEO, LTFH.

He said the company over the last two years has successfully steered its portfolio towards retailisation, with a rapid increase in rural and housing loan book.

The company offers financial products and services across rural, housing and wholesale finance sectors, as well as mutual fund products and wealth management services, through its wholly-owned subsidiaries.

Stock of the company closed 3.60 per cent up at Rs 126.60 on BSE.

| Edited by: Zoya Mateen
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 619.10 1.16
Yes Bank 111.95 2.14
Reliance 1,262.40 -1.34
SBI 353.20 1.09
UPL 936.55 5.22
Company Price Change %Gain
Emami 267.30 -7.59
Indiabulls Hsg 619.15 1.16
Yes Bank 111.95 2.19
Reliance 1,262.65 -1.29
Jet Airways 73.20 1.04
Top Gainers
Company Price Change %Gain
UPL 936.55 5.22
Yes Bank 111.95 2.14
M&M 634.85 1.18
Indiabulls Hsg 619.10 1.16
TCS 2,275.50 1.14
Company Price Change %Gain
Yes Bank 111.95 2.19
M&M 635.45 1.31
TCS 2,275.00 1.11
SBI 353.25 1.09
Coal India 256.85 0.96
Top Losers
Company Price Change %Gain
JSW Steel 257.80 -3.50
ONGC 165.20 -3.36
Eicher Motors 19,098.20 -3.15
Vedanta 168.45 -2.29
Tata Steel 486.25 -2.29
Company Price Change %Gain
ONGC 165.25 -3.48
Tata Steel 486.15 -2.33
Vedanta 168.50 -2.23
Bajaj Auto 2,816.45 -1.97
Reliance 1,262.65 -1.29

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results