L&T Finance Flourishes With 14% Profit Growth Amid Strategic Innovations

L&T Finance Ltd. reported a 14% increase in Profit After Tax for the nine months ending December 2024. The company witnessed significant growth in retail disbursements and partnerships, enhancing its digital credit solutions. Strategic moves were made in various finance sectors, fuelling expansion and diversification.

L&T Finance Ltd. (LTF) has marked a significant milestone by recording a consolidated Profit After Tax of Rs. 2,007 crore for the nine-month period ending December 31, 2024, reflecting a 14% growth over the same period last year. The quarterly profit stood at Rs. 626 crore, showcasing consistent financial strength.

The company reported quarterly retail disbursements of Rs. 15,210 crore, marking a 5% Year-on-Year increase. Its retail book size grew 23% YoY to Rs. 92,224 crore, supported by digital channels like the PLANET app, which saw over 1.5 crore downloads. This digital transformation contributed to collection and sourcing successes.

Notable strategic initiatives include expanding the 'Project Cyclops' credit underwriting engine, collaborating with Amazon Pay for innovative credit solutions, and expanding the PhonePe partnership. Additionally, LTF launched an AI-powered chatbot to enhance the home loan user experience, with ongoing efforts aligned with the Lakshya 2026 strategic roadmap.

(With inputs from agencies.)