Holding company L&T; Finance announced Q4FY24 & FY24 results: Q4FY24 Consolidated Financial Highlights: Profit After Tax (PAT) reached Rs 554 crore, up 11% YoY from Rs 501 crore. Net Interest Income (NII) amounted to Rs 1,909 crore, showing a 14% YoY increase from Rs 1,679 crore. Net Interest Margin + Fees & Other Income stood at 11.25%, up 204 basis points (bps) YoY from 9.21%. Retail Disbursements totaled Rs 15,044 crore, reflecting a 33% YoY increase from Rs 11,282 crore. Return on Assets (RoA) stood at 2.19%, up 29 bps YoY from 1.90%. Return on Equity (RoE) stood at 9.53%, up 16 bps YoY from 9.37%. FY24 Consolidated Financial Highlights: Profit After Tax (PAT) amounted to Rs 2,320 crore, up 43% YoY from Rs 1,623 crore. Net Interest Income (NII) reached Rs 7,115 crore, marking a 12% YoY increase from Rs 6,368 crore. Net Interest Margin + Fees & Other Income stood at 10.67%, up 200 bps YoY from 8.67%. Retail Disbursements totaled Rs 54,267 crore, reflecting a 29% YoY increase from Rs 42,065 crore. Retail Book amounted to Rs 80,037 crore, up 31% YoY from Rs 61,053 crore. Return on Assets (RoA) stood at 2.32%, up 79 bps YoY from 1.53%. Return on Equity (RoE) stood at 10.35%, up 256 bps YoY from 7.79%. Commenting on the financial results, Sudipta Roy, Managing Director & CEO, L&T; Finance said, “In the second year of our Lakshya 2026 strategic plan, we are happy to report a retailisation of 94% surpassing our goals well ahead of schedule. Our Net Profit for FY24 saw a healthy 43% YoY growth to Rs. 2,320 Crore, driven by a 31% YoY increase in our retail book and a 29% YoY rise in disbursements. This is the highest ever yearly PAT the Company has delivered during its lifetime. Despite the challenging interest rate environment, our borrowing cost remained stable and our portfolio credit metrics continued its improvement journey. Looking ahead, our focus remains on exceeding the 95% retailisation target while maintaining a robust book growth of more than 25%. Our commitment to operational excellence, customer centricity, strong governance and risk management, coupled with a digital first approach, will sustain our growth momentum towards building a value creating, customerfocused technology first financial services powerhouse.” Result PDF
Conference Call with L&T; Finance Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with L&T; Finance Holdings Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.