L&T Finance gains on robust Q3 earnings

Consolidated net profit rose for Oct-Dec quarter increased 65% to Rs 182 compared to Rs 110 crore in the same quarter last fiscal

Shares of L&T Finance Holdings were up nearly 5% at Rs 73 after the company posted robust earnings during the third quarter ended December 2014 on the back of healthy margins, good fee income, well-managed operating costs and optimisation in borrowing costs.

Consolidated net profit for the quarter increased 65% to Rs 182 crore, compared to Rs 110 crore the corresponding period a year ago.

Total income for the third quarter increased to Rs 1,611 crore compared to Rs 1,308 crore in the same quarter last fiscal.

Consolidated net interest margin at the end of the quarter stood at 5.6 per cent, compared with 5.2 per at the end of the quarter ended December, 2013.

The stock opened at Rs 71.20 and touched a high of Rs 73.20. At 9:40AM, over 4.4 million shares were traded on both the stock exchanges.