L&T Finance , a leading non-banking financial company, has reported a robust performance for the quarter, showcasing strong growth across key financial metrics and business segments.

Financial Highlights

• Profit After Tax (PAT) reached Rs 701.00 crore, marking a 10% increase quarter-on-quarter and a 2% rise year-on-year.
• The consolidated book achieved a record high of Rs 1,02,314.00 crore.
• Return on Assets (RoA) improved to 2.37%, up by 15 basis points quarter-on-quarter.

Retail Business Performance

• Retail disbursements grew by 18% year-on-year to Rs 17,522.00 crore, driven by strong performance across business segments.
• The retail book stood at Rs 99,816.00 crore, reflecting an 18% year-on-year growth.

Key Business Developments

• L&T Finance completed the acquisition and integration of Paul Merchants Finance's gold loan business, adding 130 branches and a Rs 1,300.00 crore book.
• Rural Business Finance showed positive momentum with a 10% quarter-on-quarter growth in disbursements, though Karnataka collections require additional time to normalize.
• The company utilized Rs 300.00 crore of macro-prudential provisions due to flow-forwards from the previous quarter.

Technology and Innovation

• Project Cyclops, the company's AI-ML credit underwriting engine, showed encouraging results in Two Wheeler Finance, reducing net non-starters to 0.34% from 2.36% over five months.
• Personal loans disbursements grew 65% year-on-year, supported by digital partnerships with Amazon Pay, Cred, and PhonePe.

International Credit Ratings

L&T Finance received its first international credit ratings:

• S&P Global: BBB-/A-3 with a positive outlook
• Fitch: BBB- with a stable outlook

Management Outlook

• The management expects credit costs to stabilize at 2.30%-2.50% by year-end.
• Anticipates improved performance in the second half of the financial year.

L&T Finance's strong performance this quarter, coupled with strategic acquisitions and technological advancements, positions the company well for continued growth in the coming quarters. The management's focus on risk-calibrated growth and digital initiatives is expected to drive further improvements in the company's financial metrics.

L&T Finance , a prominent player in the Indian financial services sector, witnessed significant trading activity on the National Stock Exchange (NSE) today. A substantial block deal involving the company's shares caught the attention of market participants and investors alike.

Block Deal Details

The block trade on the NSE involved approximately 2,853,979 shares of L&T Finance. The transaction was valued at Rs. 58.29 crores, with the shares changing hands at a price of Rs. 204.25 per share.

Market Impact

Block deals of this magnitude often attract attention as they can potentially influence market sentiment and the stock's trading pattern. While the exact reasons behind this large transaction remain undisclosed, such deals are typically executed by institutional investors or large shareholders.

Stock Performance

The execution price of Rs. 204.25 per share in this block deal provides a snapshot of the market's current valuation of L&T Finance. Investors and analysts may closely watch the stock's performance in the coming days to gauge any potential impact of this significant transaction on the company's share price.

Company Overview

L&T Finance is a subsidiary of Larsen & Toubro, one of India's largest conglomerates. The company operates in various segments of the financial services industry, including rural finance, housing finance, and investment management.

This block deal highlights the continued interest in L&T Finance's shares among large investors. As always, market participants are advised to conduct their own research and consider their financial goals before making investment decisions based on such market movements.