By
Tricitynews
Chandigarh
27th July:- The
Board of Directors of L&T Finance Holdings Ltd. (LTFH), at its meeting held
today, approved the unaudited financial results for quarter ended 30thJune
2018 (Q1FY19).
In
line with direction from Ministry of Corporate Affairs, LTFH has adopted Indian
Accounting Standards (IND AS) with effect from 1st April 2018.
Results of Q1FY19 are prepared and reported in compliance with IND AS
requirements. Additionally, for the same quarter of previous year (Q1FY18),
figures have been recast to fit IND AS requirements.
Commenting
on the results and financial performance, Dinanath Dubhashi, Managing Director
& CEO, LTFH, said that we continue on the journey of improving our RoE through
continuously enhancing our competitive position, strong NIMs + fees, tight cost
controls and improving asset quality. Retailisation of our book, and usage of
digital and data analytics remains pivotal to our strategy. We have now
provided for the legacy Infra stressed book. For Q1FY19, we have achieved RoE
of 18.45% which is within the steady state range. Having reached the steady
state range of RoE, our focus will be on maintaining it through responsible
growth and minimizing sigma by tightly managing all families of risk.
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