L&T Finance Holdings Q1 net rises 7.8% at Rs 207 cr

L&T Finance Holdings reported a rise of 7.8% on Friday in consolidated net profit at Rs 207.4 crore for first quarter ended June, 2016. Company's consolidated net profit stood at Rs 192.46 crore in the April-June quarter of the previous fiscal. "Total income (consolidated) has increased to Rs 2,030.73 crore for quarter ended June 2016, from Rs 1,758.40 crore for the year ago quarter," the company said in a filing.

On standalone basis, the company posted a net profit of Rs 2.92 crore for the quarter under review, sharply down from Rs 21.67 crore a year ago. Standalone income also fell to Rs 23.46 crore from Rs 27.44 crore in the year-ago period. L&T Finance Holdings is a financial holding company that offers financial services across the rural, housing and wholesale finance. Besides, it sells mutual fund products, wealth management services through its subsidiaries. It is promoted by engineering and construction major Larsen & Toubro (L&T).

Shares of the company were trading 2.94% up at Rs 77.05 per scrip on BSE.