L&T Finance Holdings reported a steady growth in consolidated net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 10.19% to Rs 2,055.59 million from Rs 1,865.42 million in the same quarter last year.

Net sales for the quarter rose 16.73% to Rs 16,707.65 million, compared with Rs 14,314 million for the prior year period.

Loans & Advances as on Mar. 31, 2015 grew by 18% y-o-y to Rs 472.32 billion as compared to Rs 400.82 billion as on Mar. 31, 2014.

Y. M. Deosthalee, chairman & managing director, L&T Finance Holdings, said, ''We are happy to report a healthy 18% growth in loans and advances along with a 23% growth in profits for the full year. Focus on B2C products (tractors, 2-wheeler finance, microfinance and housing finance) and emphasis on operating projects in renewable power and road segment have been key to this growth.

The quarter has also seen a sharp improvement in the gross NPAs due to strong collection efforts and proactive calls on certain stress assets. Healthy net interest margins, increased fee income and stable operating expenses all through the year have enabled the company to accelerate provisions that would result in a stronger balance sheet and create further headroom for growth.''

Shares of the company gained Rs 2.6, or 4.08%, to trade at Rs 66.30. The total volume of shares traded was 1,657,565 at the BSE (1.56 p.m., Thursday).