L&T Finance Holdings

After the divestment of the mutual fund business, LTFH has proposed merger of its subsidiary lending entities - L&T Finance and L&T Infra Credit with itself

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To accelerate sale of wholesale loan book; Makes one-time provision of Rs 2,687 cr

L&T Finance Holdings said it has received Rs 3,485 crore from HSBC AMC as sale proceeds

Its capital adequacy was 22.65 per cent (Tier 1: 19.85 per cent) and Debt to Equity (D/E ratio) at 4.18 times in Q2FY23

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Firm expects NIM plus fees to stay above 8% in FY23

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The real estate book of L&T Finance is worth Rs 11,210 crore and infrastructure finance is worth 30,521 crore as on March this year

For FY22, its consolidated net profit rose by 10% to Rs 1,070 crore; board has recommended a dividend of Rs 0.50 a share

The growth outlook is very conducive as the economy comes out of a turbulent period due to the pandemic.

Appoints L&T CEO S N Subrahmanyan as chairman; Shailesh Haribhakti to remain independent director

BNP Paribas Arbitrage on Monday bought shares of L&T Finance Holdings worth nearly Rs 413 crore through an open market transaction. As per block deal data on BSE, over 5.78 crore shares were purchased at an average price of Rs 71.35 apiece. This took the total deal value to Rs 412.9 crore. Separately, Citi Group Markets Mauritius Pvt Ltd sold shares of L&T Finance Holdings at the same price. On Monday, shares of L&T Finance Holdings Ltd declined 1.82 per cent to close at Rs 70.05 on BSE.

The company has already raised long-term funds, protecting the balance sheet from rising finance costs

Energy, auto, healthcare and banking shares were the major losers, while IT shares managed to buck the trend.

The divestment of Mutual Fund business is in line with the strategic objective of L&T Finance Holdings to unlock value from its subsidiaries and strengthen its balance sheet, the company said.

The divestment of mutual fund business is in line with the strategic objective of L&T Finance Holdings of unlocking value from its subsidiaries to strengthen its balance sheet, says the company

The company's total lending loan book contracted by 12 per cent to Rs 86,936 cr in Sept 2021 from Rs 98,823 cr in year-ago period

L&T Finance Holdings (LTFH) on Wednesday reported a 10 per cent decline in its consolidated net profit to Rs 223 crore for the second quarter ended September 2021. The non-banking financial company had posted a net profit of Rs 248 crore in the corresponding period of the previous financial year. Its total income during July-September 2021 fell to Rs 3,134.46 crore as against Rs 3,508.91 crore in the year-ago period, LTFH said in a regulatory filing. Among the market leaders in farm equipment finance, two-wheeler finance and micro loans, LTFH said it witnessed the highest-ever disbursement in rural finance during the reported quarter, while retail disbursements grew 55 per cent quarter-on-quarter. In the second quarter of FY22, all LTFH businesses witnessed robust disbursement momentum. Rural finance business saw the highest-ever Q2 disbursement at Rs 4,987 crore, a jump of 51 per cent quarter-on-quarter, it said. The total disbursements in the quarter stood at Rs 7,339 crore for

Margins & fees improve; NPAs up YoY and sequentially