INSUBCONTINENT EXCLUSIVE:
LT Finance Holdings, arm of engineering firm Larsen Toubro, Monday posted a 81 per cent rise in consolidated net profit to Rs 581 crore
during third quarter ended December 31, 2018.
The company's consolidated net profit stood at Rs 325 crore in year-ago period.
Total income
of company also increased to Rs 3,516.38 crore during quarter under review as against Rs 2,594.62 crore.
Average assets under management
(AUM) increased to Rs 69,080 crore from Rs 60,313 crore in corresponding quarter a year ago, company said.
"Our prudent asset liability
management practices have ensured that our growth remains unhindered despite volatility
During quarter, we made sure that available liquidity was actively managed and allocated towards retail and core wholesale businesses," LT
Finance Holdings Managing Director Dinanath Dubhashi said.
The company has set aside Rs 85 crore as macro-prudential provisions in quarter,
taking these in total to Rs 269 crore.
