L&T Finance's Q3 net profit rises 39% on improved margins and fees

To accelerate sale of wholesale loan book; Makes one-time provision of Rs 2,687 cr

L&T Finance Holdings’ net profit rose by 39 per cent year-on-year (YoY) to Rs 454 crore in the third quarter ended December 2022 (Q3FY23) on improvement in margins and fees. 

The Net Interest Margin (NIM) plus fees grew to 8.8 per cent in the December quarter, up 70 basis points over the year-ago period. The NIM plus margins were 8.43 per cent in the September quarter. 

They improved despite the rise in costs of funds in Q3. 

Its stock closed 1.65 per cent higher at Rs 92.45 per share on BSE.

After the divestment of the mutual fund business, LTFH has proposed merger