New Delhi, July 19: India's L&T Finance Holdings (L&TFH) reported 25.34% on-year growth in its Profit After Taxes (PAT) at Rs 120.67 crore, for the April-June quarter as the company's loans & advances grew 37.06% on-year.
L&TFH's gross NPAs stood at 1.63% of loan assets as on June 30, 2012 as compared to 1.80% at the end of March quarter.
The company's loans and advances grew by 37.06% to Rs 261.84 billion in Q1as against Rs 191.03 billion in corresponding quarter last fiscal. In the previous quarter it was at Rs 256.70 billion.
L&T Infra's disbursement for the Q1 dropped 44.33% on-year to Rs 5.8 billion, while for L&T Finance (including L&T FinCorp), disbursements grew by 8.51% on-year to Rs 34.27 billion for the quarter.
On the drop, the company said, "Lower disbursements in L&T Infra are a reflection of the current environment in the Infrastructure sector and our cautious approach to credit selection."
In L&T Infra loan assets were Rs 111.33 billion at the end of June 2012, up 43.29% over last year.
L&T Finance loan assets grew by 32.32% over last year to Rs 150.51 billion in Q1.