L&T Finance retail disbursements jump 12% YoY in Q2 FY25 | Capital Market News
L&T Finance said that its retail disbursements for Q2 FY25 was at Rs 15,070 crore, registering a growth of around 12% as against Rs 13,499 crore recorded in Q2 FY24.
Rural business finance disbursements were at Rs 5,430 crore(down 5.4% YoY), Farmer finance disbursements stood at Rs 1,780 crore(up 16.04% YoY), Urban finance disbursements were at Rs 6,280 crore (up 29.24% YoY) and SME finance disbursements came in at Rs 1,240 crore in Q2 FY25(up 42.2% YoY).
The value of acquired portfolio for Q2 FY25 was Rs 340 crore.
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Retail loan book at the end of Q2 FY25 was estimated at approximately Rs 88,950 crore, up 28.13% on a YoY basis.
Retailisation of the portfolio was approximately 96% as at end of Q2 FY25 from 88% in Q2 FY24.
Meanwhile, the company has allotted 30,000 listed, secured, rated, redeemable, non-convertible debentures having face value of Rs 1 lakh each, aggregating to Rs 300 crore through private placement.
L&T Finance offers financing for two-wheelers, consumer goods, homes, farm equipment, women entrepreneurs, rural groups, real estate, and infrastructure. It provides financing for small and medium enterprises through term loans and overdraft facilities.
The investment company reported 29.11% increase in consolidated net profit to Rs 685.51 crore on 12.08% rise in total income to Rs 3,784.61 crore in Q1 FY25 over Q1 FY24.
The counter fell 3.37% to end at Rs 174.95 on Friday, 4 October 2024.
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First Published: Oct 05 2024 | 2:31 PM IST
