L&T Finance logs a decline of 2% y-o-y in Q3FY25 net profit

21 Jan 2025 , 09:07 AM

L&T Finance Holdings recorded a net profit of ₹626.4 Crore for Q3 FY25, a 2.1% YoY decrease from ₹640 Crore in the same period last year. On a sequential basis, net profit declined 10%.

The finance business’ net interest income (NII) was reported at ₹2,041 Crore, up by 11.4% y-o-y against ₹1,833 Crore in the previous corresponding period.

Despite the decline in net profit, the company managed to exceed street estimates, reflecting a stronger-than-expected performance.

The company’s asset quality logged improvements, with its gross non-performing asset (GNPA) ratio declining to 2.85% against 3.19% in the previous period. Similarly, its net NPA (NNPA) ratio fell to 0.81%, from 0.96% in Q2 FY25. 

In the quarter under review, the company’s net interest income jumped by 15.10% y-o-y to ₹3,806.38 Crore against ₹3,306.30 Crore in the previous corresponding quarter.

The company’s net interest margin, combined with fees and other income, stood at 10.33% in Q3FY25, down from 10.93% in Q3FY24.

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