L&T Finance gains after strong Q2 numbers

L&T Finance Holdings rose 0.58% to Rs 68.95 at 9:40 IST on BSE after consolidated net profit rose 18.59% to Rs 215.41 crore on 15.81% growth in total income to Rs 1837.52 crore in Q2 September 2015 over Q2 September 2014.

The Q2 result was announced on Saturday, 24 October 2015.

Meanwhile, the S&P BSE Sensex was up 60.77 points or 0.22% at 27,531.58.

On BSE, so far 1.41 lakh shares were traded in the counter as against average daily volume of 5.48 lakh shares in the past one quarter.

The stock hit a high of Rs 69.85 and a low of Rs 68.65 so far during the day. The stock had hit a 52-week high of Rs 76.95 on 19 November 2014. The stock had hit a 52-week low of Rs 58 on 24 August 2015.

The stock had underperformed the market over the past one month till 23 October 2015, gaining 4.1% compared with Sensex's 6.38% rise. The scrip had also underperformed the market in past one quarter, sliding 4.19% as against Sensex's 3.17% fall.

The large-cap company has equity capital of Rs 1721.06 crore. Face value per share is Rs 10.

L&T Finance Holdings' (LTFH) loans & advances rose 19% to Rs 50986 crore as on 30 September 2015, compared with Rs 42762 crore as on 30 September 2014.

With regard to its future business outlook, LTFH said that consolidating and strengthening its presence in retail B2C products (tractors, two-wheelers, microfinance and housing finance) and futher enhancing its position as a leading financier of operational projects with particular emphasis on renewables and roads will continue to be the key growth drivers for the current financial year. LTFH expects its overall asset growth for the current financial year to be around 25%.

L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its wholly-owned subsidiaries, viz., L&T Finance, L&T Infrastructure Finance Company, L&T Investment Management, L&T Capital Markets, L&T Housing Finance, FamilyCredit and L&T FinCorp. L&T Finance Holdings is promoted by Larsen & Toubro (L&T), one of the leading companies in India, with interests in engineering, construction, electrical & electronics manufacturing & services, IT and financial services.

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