INSUBCONTINENT EXCLUSIVE:
L-T Finance Holdings on Friday reported around 2 per cent rise in consolidated December quarter PAT at Rs 591 crore against Rs 580 crore
reported for the same quarter a year ago.
The diversified non-banking financial company (NBFC) continued to maintain steady net interest
margin and fee income, growing it to 7.29 per cent in Q3FY20 against 6.79 per cent a year ago
Pre-provisioning operating profit (PPOP) stood at Rs 1,334 crore for Q3FY20, up 12% year on year.
The NBFC said it continued to deliver top
quartile return on equity at 16.51 per cent and its focused lending book expanded 14% year on year and it serviced over 1.19 crore customers
in long-term borrowing during the quarter, which was its highest quarterly borrowing since FY17
It also sold a public issue of secured NCDs, which was oversubscribed 3.01 times the base issue size of Rs 500 crore and the issue was
closed on the second day.
The company also effectively tapped PSL funding of Rs 1,818 crore in Q3FY20
The weighted average cost of funds remained steady at 8.54% in Q3FY20 against 8.50% in Q3FY19 and 8.61% in Q2FY20 despite diversification
concentrating on the focused lending businesses like rural finance, housing finance and infrastructure finance, while running down the
out and asserted their strength over the past year
Our robust business model, diverse sources of funding, steady growth and focus on asset quality, are in line with our strategy of building a
stable and sustainable business
We have shown consistent performance across our focused businesses while building our inherent strengths to ensure better than industry