Non-bank lender L&T Finance reported a 29% jump in its June quarter consolidated net profit, reaching ₹902 crore compared to ₹701 crore in the year-ago period. The Mumbai-headquartered company, promoted by engineering major L&T, also saw its net interest margin and fees inch up to 10.47% during the quarter, compared to 10.22% in the same period last year.
From an asset quality perspective, the non-bank lender achieved a notable improvement as its stock of Gross Stage 3 assets dropped to 2.86% from 3.31% year-on-year. Additionally, credit costs improved by a sharp 0.89% to land at 2.54%. The company attributed these risk reductions and efficiencies directly to upgrades in its collections infrastructure alongside the successful deployment of artificial intelligence-led tools.
