L&T Finance Q2 Outcomes: Internet revenue rises 17%; expects difficult six months forward

Mumbai, Non-bank lender L&T Finance on Friday reported a 17 per cent enhance in its consolidated revenue after tax at Rs 696 crore. The town-headquartered firm had reported a internet revenue of Rs 595 crore within the year-ago interval.

In an announcement, the corporate stated its general property progress got here at 18 per cent, and the disbursements within the focus space of retail have been up 12 per cent for the reporting quarter.

The retail ebook progress stood at 28 per cent, and the general quantum was Rs 88,795 crore as of September 30, 2024.

The online curiosity margins and costs have been steady at 10.86 per cent, the assertion stated.

Its managing director and chief government Sudipta Roy stated it confronted challenges within the second quarter resulting from a number of sectoral headwinds and a risky macro setting.

“We anticipate that the sectoral challenges could persist for the subsequent two quarters, and apropos to the identical, we could dynamically recalibrate our enterprise goals within the coming quarters, prioritising constructive credit score end result over property beneath administration progress,” he added. The CEO was fast so as to add that the corporate stays optimistic about its go-forward technique, and regardless of ongoing sectoral challenges, will stay centered on our general transformation agenda and granular execution. On the asset high quality entrance, the gross stage 3 property ratio improved to three.19 per cent on the finish of the quarter in opposition to 3.27 per cent within the year-ago interval, whereas the credit score prices have been steady at 2.59 per cent.

The corporate was capable of cut back the price of funds by 0.05 per cent to 7.8 per cent on proactive asset-liability administration.