L&T Finance Holdings Ltd's Q2FY19 consolidated net profit rises 65.7% yoy to Rs560cr : Beats Estimates

The company’s consolidated total income stood at Rs3,326cr, up 27.45% yoy.

Oct 24, 2018 08:10 IST India Infoline Research Team

L&T Finance Holdings Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 3,326 27.5
Net Profit (adjusted) 560 65.7

L&T Finance Holding's consolidate Q2FY19 NII has improved by 54% yoy to Rs1,126cr. The company's consolidated net profit was ~5% above consensus estimates, which has increased by 66% yoy to Rs560cr against Rs338cr in Q2FY18. Higher loan book growth and NIM improvement led to beat on net profit. Its gross stage 3 levels have gone down to 7.1% for Q2FY19 from 7.93% in Q1FY19. Its net stage 3 levels have gone down to 2.79% for Q2FY19 from 3.17% qoq.

  • The overall loan book of the company is up by 24% yoy to Rs91,201cr in Q2FY19.
  • NIMs for the quarter has increased by 11bps to 5.01%, whereas yield for Q2FY19 has improved by 40bps to 12.35%.
  • The credit cost for the quarter was flat qoq at 1.66%.
  • The CRAR ratio for Q2FY19 end is at 17.5%.

Technical View:

L&T Finance Holdings Ltd ended at Rs. 126.60, up by 4.4 points or 3.6% from its previous closing of Rs. 122.20 on the BSE.
The scrip opened at Rs. 124.85 and touched a high and low of Rs. 127.45 and Rs. 121.70 respectively. A total of 1,85,96,971 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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