L&T Finance Q1 Results Highlights: Net profit rises 29% to ₹686 crore, NII up 23%

3 min read | Updated on July 16, 2024, 21:47 IST

SUMMARY

L&T Finance Q1 Results Highlights: Net interest income rose to ₹2,020 crore in the June quarter compared to ₹1,644 crore in the year-ago period.

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L&T Finance is among the listed companies that will declare their Q1 results on July 16

L&T Finance Q1 Results Highlights

NBFC firm L&T Finance reported a 29% rise in consolidated net profit to ₹686 crore for the first quarter ended June 2024 on the back of healthy interest income.
The non-banking financial company had posted a net profit of ₹531 crore in the same quarter in the previous fiscal.
Total income during the April-June period increased to ₹3,785 crore against ₹3,377 crore in the year-ago quarter, L&T Finance said in a regulatory filing.
Net interest income (NII) rose 23% to ₹2,020 crore in the quarter compared to ₹1,644 crore in the year-ago period.
However, expenses of the financial services firm declined slightly to ₹1,351 crore as against ₹1,364 crore in the same period a year ago.

L&T Finance Q1 Results LIVE Update at 05:00 pm: A look at the company's retail disbursements in FY24

The company recorded annual retail disbursements of ₹54,267 crore in FY24, up 29% YoY. The quarterly retail disbursement stood at ₹15,044 crore in Q4, up 33% YoY.

L&T Finance Q1 Results LIVE Update at 03:30 pm: Shares close in the red ahead of results

L&T Finance shares closed at ₹184.3 apiece on the NSE, down 0.83% as against the last closing price.

L&T Finance Q1 Results LIVE Update at 02:30 pm: How the company performed in Q4?

In the preceding quarter ended March 2024, L&T Finance had reported a net profit of ₹554 crore, which was up 11% as against the year-ago period.

L&T Finance Q1 Results LIVE Update at 01:30 pm: How L&T Finance performed in FY24

For the entire fiscal year ended March 31, 2024, the company posted a 43% year-on-year (YoY) surge in net profit at ₹2,320 crore.

L&T Finance Q1 Results LIVE Update at 12:30 pm: Stock in the red ahead of results

L&T Finance shares are trading at ₹182.75 apiece on the NSE, down 1.67% as against the last closing price. The dip in shares comes ahead of the release of Q1 results today.

L&T Finance Q1 Results LIVE Update at 11:45 am: Company to post quarterly earnings today

L&T Finance, the NBFC arm of Larsen & Toubro group, will declare its financial results for the quarter ended June 2024 on Tuesday, July 16. Stay tuned here for the latest updates on the company's Q1 results.

In the preceding quarter ended March 2024, L&T Finance had reported a net profit of ₹554 crore, which was up 11% as against the year-ago period.

For the entire fiscal year ended March 31, 2024, the company posted a 43% year-on-year (YoY) surge in net profit at ₹2,320 crore.

L&T Finance's retail book, at the end of Q4FY24, stood at ₹80,037 crore, up 31% when compared with retail book for the year ended March 31, 2023.

The company recorded annual retail disbursements of ₹54,267 crore in FY24, up 29% YoY. The quarterly retail disbursement stood at ₹15,044 crore in Q4, up 33% YoY.

L&T Finance's board had also declared a final dividend of ₹2.5 per equity share at face value ₹10 each while declaring the March 2024 quarter results.

With PTI inputs

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L&T Finance Q1 Results Highlights: Net profit rises 29% to ₹686 crore, NII up 23%

L&T Finance Q1 Results Highlights

L&T Finance Q1 Results LIVE Update at 05:00 pm: A look at the company's retail disbursements in FY24

L&T Finance Q1 Results LIVE Update at 03:30 pm: Shares close in the red ahead of results

L&T Finance Q1 Results LIVE Update at 02:30 pm: How the company performed in Q4?

L&T Finance Q1 Results LIVE Update at 01:30 pm: How L&T Finance performed in FY24

L&T Finance Q1 Results LIVE Update at 12:30 pm: Stock in the red ahead of results

L&T Finance Q1 Results LIVE Update at 11:45 am: Company to post quarterly earnings today

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