Results for Q4 at L&T Finance: Net profit increased by 10.5% to Rs 553.88 crore.

Sequentially, L&T Finance’s net profit decreased by 13.5 percent.

Financial Update: Q4 FY23–24 Saw a 10.54% Increase, Per L&T Finance Net Profit Despite Drop in Sequence

The non-bank lender L&T Finance announced on April 27 that its consolidated net profit for the fourth quarter of the fiscal year 2023–24 increased by 10.54 percent to Rs 553.88 crore. The net profit of L&T Finance decreased by 13.5 percent on a sequential basis.
For the quarter ending in March, the company earned interest income of Rs 3,322 60 crore.
The company’s Net Interest Income (NII) decreased from Rs 1,679 crore to Rs 1,909 crore in Q4Fy24. There was a 14% rise on an annual basis.

L&T

The company’s growth trajectory is highlighted by strong performance metrics in Q4FY24.

Net Interest Margin plus Fees and Other Income was 11.25 percent, up 204 basis points year over year from 9.21 percent in the same quarter last year. The company’s retail disbursements in Q4FY24 increased 33 percent year over year to Rs 15,044 crore from Rs 11,282 crore in the same time the previous year. The non-bank lender achieved a 94 percent completion rate in the January-March quarter, surpassing its initial goal of fewer than 80 percent. In comparison to the intended Compound Annual Growth Rate (CAGR) growth rate of 25%, Retail Book rose by 31% year over year.

In comparison to the planned GS3 of less than 3 percent and the targeted NS3 of less than 1 percent, respectively, Q4FY24 Consolidated Asset Quality shows Gross Stage 3 (GS3) at 3.15 percent and Net Stage 3 (NS3) at 0.79 percent. Q4FY24 saw the highest quarterly retail disbursements at Rs 15,044 crore, up 4% sequentially and 33% year over year. highest ever retail disbursements, up 29% year over year to Rs 54,267 crore.

Posted By- Charchit Priyam


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