L&T Finance Holdings posts 45 per cent hike in Q2 profits
DSIJ Intelligence / 26 Oct 2017
NBFC major L&T Finance Holdings announced its financial results for the second quarter of FY18 on Thursday, posting a 45 per cent hike in its profit at Rs. 360 crore for the period on a yearly basis.
NBFC major L&T Finance Holdings announced its financial results for the second quarter of FY18 on Thursday, posting a 45 per cent hike in its profit at Rs. 360 crore for the period on a yearly basis. The company posted a profit of Rs. 248 crore for the same quarter in the previous year.
The company’s return on equity also improved by 343 bps from 11.72 per cent in the second quarter of FY17 to 15.15 per cent in the second quarter of FY18. The average assets under management of the company in investment management business rose by 61 per cent from Rs. 32,667 crore in the second quarter of FY17 to Rs. 52,749 crore in the second quarter of FY18. The wealth management business also rose by 52 per cent during the corresponding period.
The stock closed at Rs. 196.85 per share, higher by 0.85 per cent on Thursday on NSE. The stock recorded a traded volume of 1,40,30,330 shares and a traded value of Rs. 27,846 lakh on NSE, respectively. The stock had hit its 52-week high of Rs. 213.85 per share on October 24, 2017 and its 52-week low of Rs. 80.95 per share on December 24, 2016.
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