L&T Finance Holdings Q2 consolidated net profit declines 15% to Rs 224 cr

The company's total lending loan book contracted by 12 per cent to Rs 86,936 cr in Sept 2021 from Rs 98,823 cr in year-ago period

L&T Finance Holdings Ltd's (LTFH) consolidated net profit declined by 15 per cent, on an annual basis, to Rs 224 crore in the second quarter ended September 2021 (Q2FY22). However, sequentially it rose by about 26 per cent from Rs 178 crore in the first quarter ended June 2021 (Q1FY22), which coincided with the second wave of pandemic.

Dinanath Dubhashi, Managing Director & Chief Executive, LTFH, said, profits declined in Q2FY22 on an annual basis due to contraction in loan book and higher rate of taxation.

On Wednesday, the company's stock closed 0.9 per cent lower at Rs 91.45 per