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

0
7

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.

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 Als 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 womens 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.

For more information: X, Facebook, Linkedin, Youtube.

Previous articleMultiplier Earns Great Place To Work Certification
Next articlePadamjeet Sehrawat’s Inspiring Poetry Collection ‘Udaan’ Launched in Delhi
Ravindra Kirti is a well-rounded Marketing professional with an impressive academic and professional portfolio. He is IIM Calcutta alumnus & holds a PhD in Commerce, having written an insightful thesis on consumer behavior and psychology, which informs his deep understanding of market dynamics and client engagement strategies. His academic journey includes an MBA in Marketing, where he specialized in strategic management, international marketing, and luxury retail management, equipping him with a global perspective and a strategic edge in high-end market segments. In addition to his business expertise, Ravindra is also academically trained in law, holding a Master’s in Law with specializations in law of patents, IT & IPR, police law and administration, white-collar crime, and corporate crime. This legal knowledge complements his role as the Chief at Jurislaw Partners, where he applies a blend of legal acumen and strategic marketing. With such a rich educational background, Ravindra excels across a range of fields, from legal marketing to luxury retail, and event design. His ability to interlace disciplines—commerce, marketing, and law—enables him to drive successful outcomes in every venture he undertakes, whether as Chief at Jurislaw Partners, Editor at Mojo Patrakar and Global Growth Forum, Founder of CircusINC, or Chief Designer at Byaah by CircusINC. On a personal note, Ravindra Kirti is not only a devoted pawrent to his pet, Kattappa, but also an enthusiast of Mixed Martial Arts (MMA) and holds a Taekwondo Dan 1. This active lifestyle complements his multifaceted career, reflecting his discipline, resilience, and commitment—qualities he brings into his professional relationships. His bond with Kattappa adds a warm, grounded side to his profile, showcasing his nurturing and compassionate nature, which shines through in his connections with clients and colleagues. Ravindra’s career exemplifies versatility, intellectual depth, and excellence. Whether through his contributions to media, law, events, or design, he remains a dynamic and influential presence, continually innovating and leaving a lasting impact across industries. His ability to balance these diverse roles is a testament to his strategic vision and dedication to making a difference in every field he enters.