Latest News | L&T Finance Q1 Profit Up 29 Pc at Rs 686 Cr

New Delhi, Jul 16 (PTI) NBFC firm L&T Finance on Tuesday reported a 29 per cent rise in consolidated net profit to Rs 686 crore for the first quarter ended June 2024 on the back of healthy interest income.

The non-banking financial company had posted a net profit of Rs 531 crore in the same quarter in the previous fiscal.

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Total income during the April-June period increased to Rs 3,785 crore against Rs 3,377 crore in the year-ago quarter, L&T Finance said in a regulatory filing.

Net Interest Income (NII) rose 23 per cent to Rs 2,020 crore in the quarter compared to Rs 1,644 crore in the year-ago period.

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However, expenses of the financial services firm declined slightly to Rs 1,351 crore as against Rs 1,364 crore in the same period a year ago.

LTF provides digitally driven products and services, including farmer finance, rural business finance, two-wheeler finance, personal loans, home loans, and SME loans.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)