L&T Finance Holdings Boosts Net Profit with Strategic Gold Loan Acquisition

L&T Finance Holdings reported a 15% increase in net profit for Q1 2024-25, reaching Rs 636 crore. The company, which saw total income rise to Rs 4,027 crore, plans strategic expansion into gold loans. A business transfer agreement with Paul Merchants Finance aims to boost high-yielding secured loans.

Devdiscourse News Desk | New Delhi | Updated: 25-04-2025 21:36 IST | Created: 25-04-2025 21:36 IST

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Retail-focused non-bank lender L&T Finance Holdings reported a robust 15% rise in consolidated net profit, amounting to Rs 636 crore for the first quarter of fiscal year 2024-25.

Building on last year's Rs 554 crore net profit, L&T Finance saw its total income increase to Rs 4,027 crore from Rs 3,676 crore.

The strategic expansion into the gold loan sector, facilitated by a business transfer agreement with Paul Merchants Finance, aims to enhance secured high-yielding books and streamline growth by 36 months.

(With inputs from agencies.)