INSUBCONTINENT EXCLUSIVE:
Authors: JordanMumbai: LT Finance today posted 28% growth in consolidated profit after tax during the fourth quarter of the financial year
aided by robust loan demand and improvement in asset quality.
During the quarter, company reported profit after tax of Rs 406 crore against
Rs 316 in the same period a year ago
The board has recommended a dividend of Re 1 per equity share for the financial year ended March 31, 2018
for FY18, even after injection of Rs
while disbursements grew 68%
This growth was made possible through improving competitive position across products, using digital and data analytics as a differentiator
Dubhashi.
For the financial year 2017-18, consolidated profit after tax rose 40% to Rs 1,459 crore from Rs 1,042 crore in FY17.
Asset
quality improved with the help of better collection and turnaround in rural economy
Gross non-performing loans was at 4.80% while net NPA at 2.34% against 7.11% and 5.02% in the same period a year ago
The vigorously monitored early warning signals, concentration on early bucket collections and continuous efforts on GNPA resolution lead to
reduction in NPAs, said Dubhashi.
The company has also increased its provision coverage ratio to 52.51% as on March 31, 2018 as against
31.00% as on March 31, 2017.
Shares of the company declined 1.15% to Rs 171.65 on the BSE
