L&T Finance Q2 net down 69% at Rs 174 cr

Money Control | Oct 18, 2019 at 9:04 PM
  • L&T Finance Holdings on October 18 reported 69 per cent fall in net profit to Rs 174 crore in the second quarter ended September 30, following one time adjustment due to the deferred tax assets (DTA) after cut in corporate tax.
  • Total income during the second quarter of 2019-20 increased to Rs 3,711.85 crore as against Rs 3,302.35 crore in the year-ago period.
  • In the second quarter of this fiscal, the government announced the reduction in corporate tax rate from 34.94 per cent from 25.17 per cent earlier.