L&T Finance Holdings has reported 215 per cent growth in consolidated profit after tax at Rs. 294.6 crore for the quarter ended December 31, 2012, as compared to Rs. 93.6 crore in the same period last year. This growth in the reported profit is after considering exceptional items amounting to Rs. 175.8 crore (net of tax), which includes profit on sale of stake in Federal Bank and costs related to integration of Fidelity’s mutual fund business.However, the company reported a 27 per cent growth in consolidated profit after tax (excluding exceptional items) at Rs. 118.8 crore as compared to Rs. 93.6 crore in the year-ago period. The company’s gross NPAs stood at 2.39 per cent as on December 31, 2012 as compared to 2.20 per cent as on December 31, 2011.Net NPAs stood at 1.56 per cent as on December 31, 2012, as compared to 1.25 per cent. “With no major changes in the operating environment in the last few quarters, the current stress in the corporate sector may continue for some time ,” N Sivaraman, CFO, L&T Finance Holdings said.
