L&T Finance Q1 net rises 8% at Rs 207 cr

Total income has increased to Rs 2,031 crore for quarter

L&T Finance Holdings on Friday reported a rise of 7.8 per cent in consolidated net profit at Rs 207 crore for first quarter ended June.

The company's consolidated net profit stood at Rs 192 crore in the corresponding quarter of the previous financial yaer.

"Total income (consolidated) has increased to Rs 2,031 crore for quarter, from Rs 1,759 crore for the year ago quarter," the company said.

On standalone basis, the company posted a net profit of Rs 2.92 crore for the quarter under review, sharply down from Rs 21.67 crore a year ago.

Standalone income also fell to Rs 23 crore from Rs 27 crore in the year-ago period.

L&T Finance Holdings is a financial holding company that offers financial services across the rural, housing and wholesale finance.

Besides, it sells mutual fund products, wealth management services through its subsidiaries.

Shares of the company ended the day 2.67 per cent up at Rs 76.85 a scrip on BSE.