L&T Finance Ltd. Records Consol. Profit After Tax at Rs. 2,007 Cr for 9 Months Ended Dec. 31, 2024, A Growth of 14 percent Over 9 Months Ended Dec. 31, 2023
L&T
Finance
Ltd.
(LTF),
one
of
the
leading
Non-Banking
Financial
Companies
(NBFCs)
in
India
has
recorded
a
consolidated
Profit
After
Tax
(PAT)
at
Rs.
2,007
Crore
for
the
nine
months
ended
December
31,
2024,
a
growth
of
14%
over
nine
months
ended
December
31,
2023.
The
consolidated
PAT for
the
third
quarter
ended
December
31,
2024
stood
at
Rs.
626
Crore.
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Highlights
of
L&T
Finance
Ltd.’s
financial
performance
The
Company
has
recorded
quarterly
retail
disbursement
of
Rs.
15,210
Crore
for
the
third
quarter
ended
December
31,
2024,
up
5%
Year-on-Year
(YoY).
The
retail
book
size
reached
Rs.
92,224
Crore
during
the
quarter,
implying
a
growth
of
23%
YoY.
Furthermore,
the
Company’s
customer-facing
PLANET
app,
which
has
emerged
as
a
powerful
digital
channel
for
customers,
has
crossed
more
than
1.5
Crore
downloads
as
on
December
31,
2024,
comprising
more
than
13.8
lakh
downloads
from
the
rural
areas.
As
of
date,
this
channel
has
done
collections
of
over
Rs.
3,100
Crore
and
has
done
sourcing
of
over
Rs.
10,500
Crore
(including
web).
Commenting
on
the
financial
results,
Mr.
Sudipta
Roy,
Managing
Director
&
CEO
of
LTF
said,
“Despite
certain
macro
challenges
within
the
microfinance
sector,
we
have
managed
the
situation
effectively.
We
are
hopeful
that
the
environment
will
be
much
better
over
the
next
couple
of
quarters.
Our
investments
and
efforts
towards
building
a
world
class
credit
underwriting
and
monitoring
infrastructure
continued
unabated.
Apropos
to
the
same,
our
next
generation
three-dimensional
credit
underwriting
engine
‘Project
Cyclops’
was
extended
to
100%
of
dealerships
in
Two-wheeler
Finance
and
was
also
operationalized
for
the
Farm
Equipment
Finance
business.
In
our
pursuit
of
innovation
within
the
lending
landscape,
LTF
launched
a
strategic
partnership
with
Amazon
Pay
to
develop
and
offer
cutting-edge
credit
solutions
through
the
platform.
We
also
extended
PhonePe
partnership
to
Personal
Loans,
delivering
a
seamless
digital
lending
experience
to
our
consumers.
Additionally,
we
have
launched
Knowledgeable
AI
(KAI),
an
AI-powered
chatbot
that
revolutionizes
the
home
loan
experience.
We
were
also
delighted
to
host
RAISE’
24,
India’s
premier
AI-themed
event
in
the
Banking,
Financial
Services,
and
Insurance
(BFSI)
sector
focused
on
Al’s
real-world
applications.
As
we
look
ahead,
we
remain
dedicated
to
driving
innovation
and
enhancing
our
offerings
to
better
serve
our
customers.”
Healthy
retail
disbursements
and
book
for
the
third
quarter
ended
December
31,
2024:
Rural
Business
Finance
Book
size
at
Rs.
26,231
Crore
vs.
Rs.
23,110
Crore,
up
14%
YoY.
Disbursements
at
Rs.
4,599
Crore
vs.
Rs.
5,476
Crore,
down
16%
YoY.
A
risk
calibrated
disbursement
strategy
was
followed
in
the
business
owing
to
a
challenging
macro
environment.
Farmer
Finance
Book
size
at
Rs.15,075
Crore
vs.
Rs.
13,845
Crore,
up
9%
YoY.
Disbursements
at
Rs.
2,495
Crore
vs.
Rs.
2,027
Crore,
up
23%
YoY.
Growth
in
the
segment
aided
by
a
better
than
average
monsoon
and
festive
season
demand.
Two-wheeler
Finance
Book
size
at
Rs.
12,676
Crore
vs.
Rs.
10,447
Crore,
up
21%
YoY.
Disbursements
at
Rs.
2,414
Crore
vs.
Rs.
2,540
Crore,
down
5%
YoY.
Calibrated
disbursements
owing
to
the
strengthening
of
documentation
and
credit
guardrails
for
sourcing
of
better-quality
credit
tested
customer
and
shift
towards
prime
customer.
Personal
Loans
Book
size
at
Rs.
7,820
Crore
vs.
Rs.
6,427
Crore,
up
22%
YoY.
Disbursements
at
Rs.
1,642
Crore
vs.
Rs.
847
Crore,
up
94%
YoY.
Growth
was
aided
by
digital
partnerships
and
tapping
growth
in
prime
segments.
Housing
Loans
and
Loans
Against
Property
Book
size
at
Rs.
23,461
Crore
vs.
Rs.
16,654
Crore,
up
41%
YoY.
Disbursements
at
Rs.
2,475
Crore
vs.
Rs.
1,998
Crore,
up
24%
YoY.
Growth
on
the
back
of
focus
on
distribution
channels
and
partnerships.
Maintained
a
pristine
secured
portfolio
performance.
SME
Finance
Book
size
at
Rs.
5,817
Crore
vs.
Rs.
3,078
Crore,
up
89%
YoY.
Disbursements
at
Rs.
1,249
Crore
vs.
Rs.
965
Crore,
up
29%
YoY.
About
L&T
Finance
Ltd
(LTF)
L&T
Finance
Ltd.
(LTF)
(https://www.ltfs.com),
formerly
known
as
L&T
Finance
Holdings
Ltd.,
(LTFH)
is
a
leading
Non-Banking
Financial
Company
(NBFC),
offering
a
range
of
financial
products
and
services.
Headquartered
in
Mumbai,
the
Company
has
been
rated
‘AAA’
– the
highest
credit
rating
for
NBFCs
– by
four
leading
rating
agencies.
It
has
also
received
leadership
scores
and
ratings
by
global
and
national
Environmental,
Social,
and
Governance
(ESG)
rating
providers
for
its
sustainability
performance.
The
Company
has
been
certified
as
a
Great
Place
To
Work®
and
has
also
won
many
prestigious
awards
for
its
flagship
CSR
project
–
Digital
Sakhi-
which
focuses
on
women’s
empowerment
and
digital
and
financial
inclusion.
Under
Right
to
Win,
being
in
the
‘right
businesses’
has
helped
the
Company
become
one
of
the
leading
financiers
in
key
Retail
products.
The
Company
is
focused
on
creating
a
top-class,
digitally
enabled,
Retail
finance
company
as
part
of
the
Lakshya
2026
plan.
The
goal
is
to
move
the
emphasis
from
product
focus
to
customer
focus
and
establish
a
robust
Retail
portfolio
with
quality
assets,
thus
creating
a
Fintech@Scale
while
keeping
ESG
at
the
core.
Fintech@Scale
is
one
of
the
pillars
of
the
Company’s
strategic
roadmap
–
Lakshya
2026.
The
Company
has
around
2.5
Crore
customer
database,
which
is
being
leveraged
to
cross-sell,
up-sell,
and
identify
new
customers.