L&T Finance Holdings Q4 net profit down 82.68% at Rs 58.87 cr
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The company reported standalone net profit of Rs 58.87 crore for the quarter ended March 31, 2021 as compared to Rs 339.81 crore in the same period last year, registering a year-on-year decline of 82.68 per cent. Net revenue of the company declined substantially by 70.50 per cent at Rs 118.13 crore in January-March quarter of this fiscal as against Rs 400.49 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 17.57 per cent to Rs 7.93 crore from Rs 9.62 crore in year ago period. Other Income dipped by 42.99 per cent at Rs 6.99 crore versus (Mar'20 Rs 12.26 crore).
Operating Profit slipped by 71.81 per cent to Rs 110.20 crore as against Rs 390.87 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 4.42 per cent in March quarter. Interest declined by 38.10 per cent y-o-y to Rs 37.96 crore, while Taxation increased by 975.00 per cent at Rs 20.21 crore (Mar'20 Rs 1.88 crore).
