The company’s net profit stood at Rs 591.47 crore during the same period in the previous fiscal.
The non-banking financial company’s (NBFC‘s) total income during the quarter under review declined to Rs 3,622.16 crore from Rs 3,735.79 crore in the year-ago quarter.
Average assets under management (AUM) declined to Rs 68,976 crore from Rs 71,587 crore in the corresponding quarter a year ago, the company said in a statement.
“Post Covid, the rural economy has performed better than urban and this trend is reflected in our disbursements, which are almost at pre-Covid levels. The festive season uptick and a steady recovery in collection volumes also underline our rural performance,” L&T Finance Holdings MD Dinanath Dubhashi said.
“Our strong performance in infra disbursements should be seen alongside the sell-down volumes, which have increased on a YoY (year-on-year) basis,” Dubhashi added.
L&T Finance Holdings is an arm of engineering firm Larsen & Toubro.