Net profit of L&T Finance slips 51% to Rs 288 crore in third quarter

L&T Finance Holdings on Friday reported a 51 per cent decline in consolidated net profit at Rs 287.75 crore during the third quarter ended December 31, 2020. The company's net profit stood at Rs 591.47 crore during the same period in the previous fiscal. The non-banking financial company's (NBFC's) total income during the quarter under review declined to Rs 3,622.16 crore from Rs 3,735.79 crore in the year-ago quarter. Average assets under management (AUM) declined to Rs 68,976 crore from Rs 71,587 crore in the corresponding quarter a year ago, the company said.