L&T Finance Q3 results: Net profit up 18% on improved interest margin, fees
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L&T Finance Ltd (LTF) reported an 18 per cent year-on-year (YoY) growth in net profit at Rs 739 crore for the third quarter ended December 2025 (Q3FY26), aided by improvement in interest margins and fees, along with steady growth in the loan book. The profit factors in the one-time impact of the New Labour Code provision, the company said in a statement.
The company, a unit of engineering and infrastructure conglomerate Larsen & Toubro Ltd, said its net interest margin (NIM) plus fees improved to 10.41 per cent in Q3FY26 from 10.33 per cent in Q3FY25. Sequentially, NIM plus fees improved by 19 basis points from 10.22 per cent in Q2FY26, contributed by stable yields and a reduction in the cost of borrowings.
The efficient treasury management resulted in the lowest-ever quarterly weighted average cost of borrowing (WACB) at 7.25 per cent in the reporting quarter, it said.
The total book size of the retail financier expanded by 20 per cent YoY to Rs 1,14,285 crore at the end of December 2025 from Rs 95,120 crore in Q3FY25.
Sudipta Roy, managing director and chief executive officer (CEO), L&T Finance, said, “Q3FY26 for the financial services sector has been defined by a powerful convergence of favourable macro tailwinds. The implementation of GST 2.0, good monsoons, and a series of repo rate cuts have seen a surge in consumption and created an environment for growth.”
In the rural business finance segment, the loan book grew by 10 per cent YoY to Rs 28,976 crore. Growth was driven by a heightened focus on improving collection efficiency and favourable macro-sectoral trends. In housing loans and loan against property, the book grew by 22 per cent YoY to Rs 28,682 crore.
The personal loan book grew by 64 per cent YoY to Rs 12,810 crore from Rs 7,820 crore a year ago. Growth in the segment was aided by big-tech partnerships, with a focus on continuously broadening customer acquisition channels. The gold loan book size reached Rs 1,738 crore, with the focus remaining on geo-expansion and increasing disbursements from new branches, it added.
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