L&TFH walks the tightrope with robust Q4 numbers
Bhagyashree Vivarekar / 02 May 2016
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L&T promoted and RBI registered NBFC, L&T Finance Holdings has posted robust Q4 results owing to the improvement in its asset quality.
L&T promoted and RBI registered NBFC, L&T Finance Holdings has posted robust Q4 results owing to the improvement in its asset quality.
Company’s consolidated Income from Operations has seen an increase of 7.6 per cent to Rs 1957.97 crore in Q4FY16 as against Rs 1819.81 crore in the last quarter. Company’s Interest expenditure stands at Rs 1127.36 crore as against Rs 1014.64 crore, an increase of 11.1 per cent.
Company’s Net Profit stands at Rs 236.85 crore in Q4FY16 as compared to Rs 211.97 crore in the last quarter i.e. an increase of 11.7 per cent.
The Year on Year (YOY) results show that, Company’s consolidated Revenues have risen 19.8 per cent which were at Rs 1634.64 crore in the same quarter last year. Net profit (PAT) too has witnessed an increase of 15.2 per cent from Rs 205.56 crore.
Yearly results show that for FY16 Company’s consolidated Income from Operations stands at Rs. 7288 crore as against Rs 6196.23 crore for FY15, an increase of 17.6 per cent. However, yearly Net profit has remained flat at Rs 856.69 crore in FY16 from Rs 854.68 crore in FY15 with rise in tax and interest expenditure and nil exceptional items.
L&TFH is looking forward to buy a stake in IDBI Bank from GoI with a view of metamorphosing into a bank. However, L&TFH may not be able to derive any positive outcome from the merger, wherein IDBI Bank is striving hard to deal with its poor asset quality and profitability issues.
The stock closed at Rs 75.7, with an increase of 5.65 per cent.
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