Its retail portfolio mix now stands at 88 per cent of the total loan book, even as it continued to reduce the wholesale book by a steep 76 per cent on-year or by Rs 28,740 crore.
Its asset quality improved with gross Non Performing Assets (NPAs) falling to 3 per cent from 3.82 per cent and net NPAs to 1 per cent from 1.14 per cent, L&T Finance Holdings managing director and chief executive Dinanath Dubhashi said.
Net income from retail loans came in at Rs 606 crore, up 86 per cent, on the back of strong net interest margin of 12.16 per cent, which rose from 11.33 per cent leading to a reduction in credit cost to 2.74 per cent from 3.46 per cent.
Retail loan book rose 33 per cent to Rs 69,417 crore from Rs 52,040 crore.
Net interest income rose 11 per cent to Rs 1,729 crore, while credit cost declined 10 per cent to Rs 517 crore from Rs 575 crore.
Capital adequacy ratio improved to 25.16 per cent of which tier 1 capital stood at 22.99 per cent.
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