L&T Finance Holdings reported a 12.2 per cent jump in consolidated net profit for the quarter ended December 31, 2021, to ₹325.99 crore. The non-banking finance company had a net profit of ₹290.66 crore in the third quarter of last fiscal. Its total revenue from operations, however, fell by 12.2 per cent to ₹2,970.75 crore in the October to December 2021 quarter, against ₹3,385.17 crore in the corresponding quarter last fiscal. The total lending book also reported a de-growth of 15 per cent to ₹85,552 crore in the third quarter of the fiscal against ₹1,00,099 crore a year ago. “The company witnessed strong improvement in disbursements and collections in the third quarter of 2021-22,” it said in a statement on Friday. Its retail portfolio mix now stands at 50 per cent, in line with its stated strategic objective. At the end of the third quarter, Gross Stage 3 assets in absolute terms stood at ₹4,866 crore, almost stable on a quarter-on-quarter basis. In percentage terms, the Gross Stage 3 and Net Stage 3 assets were at 5.91 per cent and 3.03 per cent, respectively, with Provision Coverage Ratio on Stage 3 assets at 50 per cent. It also continues to carry additional provisions of ₹1,699 crore, corresponding to 2.19 per cent of standard assets. Dinanath Dubhashi, Managing Director and CEO, L&T Finance Holdings, said: “In our retail businesses of farm and two-wheeler finance, we maintained business momentum as a leading retail financier, with a stable market share owing to our digital and data analytics capabilities. Our micro loans business volumes have normalised over ₹1,000 crore per month month and we continue to gain traction in consumer loans and home loans.”

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