L&T Finance (LTF) announced a multi-year strategic partnership with Amazon Finance India to develop innovative credit solutions aimed at enhancing affordability for Amazon's eligible customers and merchants.
This partnership will enhance LTFs product diversification strategy and improve credit availability for consumers in a fast and seamless manner.Sudipta Roy, managing director & CEO of LTF, said, We are thrilled to join forces with Amazon, marking a significant milestone in our commitment to delivering innovative financial services to customers nationwide. Enhancing customer acquisition is the first pillar of our five-pillar strategy to achieve our Lakshya goals, and this partnership will help us deepen our market integration."
At LTF, weve shifted from a product-centric approach to a customer-focused model. Our goal is to innovate and offer products that cater to the specific needs of our customers. This collaboration will enhance the customer experience by leveraging Amazons agile technology, showcasing our shared synergies in delivering exceptional value and convenience. It will also revolutionize how responsible financing is accessed and utilized by consumers in emerging India."
Vikas Bansal, director of Amazon Finance India, said, We are committed to fostering innovation and building collaborations that deliver exceptional value to our customers, providing them with a convenient, trusted, and affordable experience, while encouraging responsible credit behaviour.
Our collaboration with LTF will aim to empower eligible customers to fulfil their consumption aspirations. By leveraging a cloud-native architecture, we aim to set new standards in availability, speed, and overall experience, ensuring that we continue to simplify lives and meet the evolving needs of our customers.
L&T Finance offers financing for two-wheelers, consumer goods, homes, farm equipment, women entrepreneurs, rural groups, real estate, and infrastructure. It provides financing for small and medium enterprises through term loans and overdraft facilities.
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The company reported 16.88% jump in consolidated net profit to Rs 695.58 crore in Q2 FY25 as compared with Rs 595.11 crore in Q2 FY24. Total income increased 15.56% YoY to Rs 4,024.02 crore during the quarter.
The scrip shed 0.67% to Rs 139.90 on the BSE.
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