L&T Finance Q4 profit rises 15% to ₹636 crore, total income rises to ₹4,027 crore

Retail-focused non-bank lender L&T Finance has reported a 15% rise in consolidated net profit to ₹636 crore for the January-March quarter of 2024-25.

The company had earned a net profit of ₹554 crore in the corresponding quarter of the previous financial year.

During the quarter, the NBFC's total income increased to ₹4,027 crore from ₹3,676 crore a year ago, L&T Finance said in a regulatory filing.

Interest income grew to ₹3,750 crore during the period under review, from ₹3,323 crore in the corresponding quarter a year ago.

Retail disbursements rose to ₹14,899 crore as compared to ₹15,044 crore in the last quarter of the previous year.

The NBFC firm plans to foray into gold loans and entered into a business transfer agreement with Paul Merchants Finance Pvt Ltd for the proposed acquisition of their gold loan business undertaking by way of a slump sale on a going concern basis, subject to fulfilment of customary closing conditions.

"The acquisition is in line with our strategy to enhance secured high-yielding books. It cuts time-to-scale gold loan business by 36 months, providing high quality, profitable and attractive RoA profile gold loan franchise at an attractive consideration," it said.

Integration plan and governance framework put in place to achieve a targeted closing date within Q2FY26, it said.