On Friday 15 Jan 2021, L & T Finance Holding Ltd. (LTFH) released a report stating that there is a fall of 51% in its consolidated net profit to ₹291 crores for the quarter ended December. This was because the operating impact of impairments got transmitted to the bottom line. For the year 2019-20, a profit of ₹591 crores was posted by the company.
For the quarter ended December 31st, a total of 3.04% YoY at ₹3622.16 crores was income fell against ₹3735.79 crores for the same quarter last year. Accounting for 90% of total revenue with fees the interest income continued to be the mainstay of the top line accounting with the inclusion of commissions accounting for the balance, LTFH said in a regulatory filing.
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