L&T Finance Holdings stock spurts 3% after bad loans decline in Q4FY18
The company’s NNPA for the quarter came at 2.34% against 2.87% qoq, which has declined by 53bps.
L&T Finance Holdings stock gained 3% after Q4FY18 NII improved by 30.5% yoy to Rs1,311.1cr.
The bank’s consolidated net profit was above estimates, which has increased by 28.6% yoy to Rs406cr against Rs315.8cr. Its GNPA for Q4FY18 stood at 4.8% against 5.49% qoq, which has declined by 69bps. NNPA for the quarter came at 2.34% against 2.87% qoq, which has declined by 53bps.
The company plan to improve RoE to 17-18% from 15% by 2020, as per media report.
The stock is currently trading at Rs176.85, up by Rs5.2 or 3.03% from its previous closing of Rs171.65 on the BSE. The scrip opened at Rs175.80 and has touched a high and low of Rs180 and Rs173.75, respectively.
LTFH’s operates in retail/wholesale lending, as well as financing of 2-wheelers & tractors, microfinance, home loans/LAP, builder finance, infra finance and structured finance among other product lines.