L&T Finance Holdings Announces First Quarter Results for FY-19

By 121 News

Chandigarh 27th July:- The Board of Directors of L&T Finance Holdings Ltd. (LTFH), at its meeting held today, approved the unaudited financial results for quarter ended 30^thJune 2018 (Q1FY19).

In line with direction from Ministry of Corporate Affairs, LTFH has adopted Indian Accounting Standards (IND AS) with effect from 1^st April 2018. Results of Q1FY19 are prepared and reported in compliance with IND AS requirements. Additionally, for the same quarter of previous year (Q1FY18), figures have been recast to fit IND AS requirements.

Commenting on the results and financial performance, Dinanath Dubhashi, Managing Director & CEO, LTFH, said that we continue on the journey of improving our RoE through continuously enhancing our competitive position, strong NIMs + fees, tight cost controls and improving asset quality. Retailisation of our book, and usage of digital and data analytics remains pivotal to our strategy. We have now provided for the legacy Infra stressed book. For Q1FY19, we have achieved RoE of 18.45% which is within the steady state range. Having reached the steady state range of RoE, our focus will be on maintaining it through responsible growth and minimizing sigma by tightly managing all families of risk.