L&T Finance reports strong Q1 results, retail business grows

L&T Finance achieved quarterly profit of INR 701 crore, up 10% quarter-on-quarter and 2% year-on-year, with its consolidated book reaching an all-time high of INR 1,02,314 crore.

Retail disbursements rose to INR 17,522 crore, an 18% yearly increase, pushing the retail book to INR 99,816 crore. The company's return on assets improved by 15 basis points to 2.37%.

The company's Project Cyclops technology initiative achieved 100% implementation in two wheeler finance, reducing net non-starters to 0.34%. L&T Finance also acquired Paul Merchants Finance's gold loan business, adding INR 1,335 crore to its portfolio.