L&T Finance Holdings on Friday reported a 51 per cent decline in consolidated web revenue at Rs 287.75 crore through the third quarter ended December 31, 2020.

The corporate’s web revenue stood at Rs 591.47 crore throughout the identical interval within the earlier fiscal.

The non-banking monetary firm’s (NBFC‘s) complete revenue through the quarter underneath evaluation declined to Rs 3,622.16 crore from Rs 3,735.79 crore within the year-ago quarter.

Common property underneath administration (AUM) declined to Rs 68,976 crore from Rs 71,587 crore within the corresponding quarter a 12 months in the past, the corporate stated in an announcement.

“Submit Covid, the agricultural economic system has carried out higher than city and this development is mirrored in our disbursements, that are nearly at pre-Covid ranges. The festive season uptick and a gentle restoration in assortment volumes additionally underline our rural efficiency,” L&T Finance Holdings MD Dinanath Dubhashi stated.

“Our sturdy efficiency in infra disbursements must be seen alongside the sell-down volumes, which have elevated on a YoY (year-on-year) foundation,” Dubhashi added.

L&T Finance Holdings is an arm of engineering agency Larsen & Toubro.