L&T Finance Holdings Achieves Record Profits and Digital Success

Newzdaddy Business Updates

 

L&T Finance Holdings, a big financial company, had an excellent three months from July to September 2023. They made a profit of Rs. 595 crore, which is 46% more than the previous year.

Digital Transformation

L&T Finance is rapidly turning into a top-notch digital financial company. They have a new app called PLANET, which has been downloaded by over 6 million people. This app is becoming a powerful tool for their customers.

Retail Loans are Thriving

The company is doing really well with loans for regular people, called “Retail Loans.” They gave out more loans than ever before, totaling Rs. 13,499 crore, and this is 32% more than last year. They now have more of their loans in this category, at 88%, than they planned for in 2026. It’s a big success.

Reducing Other Types of Loans

While they are growing in retail loans, they are also getting rid of other types of loans. They got rid of 76% of these loans, which is a huge amount, and it’s in line with their 2026 goals.

The CEO’s Thoughts

The CEO, Mr. Dinanath Dubhashi, is very happy about their success. He says they are growing in retail and have a great app. They plan to keep growing and offering their customers more digital services.

Other Areas of Growth

Apart from retail loans, L&T Finance is also doing well in rural loans, farm equipment loans, two-wheeler loans, personal loans, home loans, loans against property, and loans for small businesses. They are growing in many areas.

Staying Connected to Customers

L&T Finance is working hard to make sure they keep getting paid by their customers. They are using digital tools and data to help with this. They want to be a company that their customers like and trust.

In simple terms, L&T Finance is making a lot of money, especially from regular people’s loans, and they are also getting really good at using digital tools to help their customers. They’re planning to keep growing and stay close to their customers.

Also Read:

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