L&T Finance Holdings Achieves Remarkable 103% YoY PAT Growth in Q1FY24

20 Jul 2023 , 02:09 PM

L&T Finance Holdings Ltd. reports a significant 103% YoY growth in Profit After Tax (PAT) for Q1FY24, reaching Rs 531 crore. The company achieves its Lakshya 2026 target of over 80% realisation well ahead of schedule.

The PLANET app, a key part of their digital strategy, surpasses 44 lakh downloads. Strong retail disbursements in Q1FY24 amount to Rs. 11,193 crore, reflecting a YoY increase of 25%.

As per data, The wholesale book is reduced by 65% YoY, totaling Rs. 25,992 crore, aligning with their goal of becoming a leading retail finance company.

L&T Finance Holdings progresses on the proposed merger of entities for establishing a consolidated single-entity structure. The company announces its highest final dividend to date of Rs. 2 per equity share (with a face value of Rs. 10 per share) for FY23.

L&T Finance holds top ratings of ‘AAA’ from leading credit rating agencies such as CRISIL, ICRA, CARE, and India Ratings, indicating exceptional creditworthiness and reliability. The Board of L&T Finance Holdings Ltd. (LTFH), a leading NBFC in India, announces the financial results for Q1FY24, showcasing strong performance and progress towards becoming a top-class, customer-focused retail financier.

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