L&T Finance Holdings surges on reporting 39% rise in Q3 consolidated net profit

L&T Finance Holdings surges on reporting 39% rise in Q3 consolidated net profit

Indian Market
by 5paisa Research Team Last Updated: 2023-01-16T13:53:04+05:30

Today the shares of the company jumped more than 3% in the morning trade.

L&T Finance Holdings has reported results for the third quarter that ended on December 31, 2022 (Q3FY23). On a consolidated basis, the company has reported a rise of 39.16% in its net profit attributable to owners of the company at Rs 453.64 crore for the quarter under review as compared to Rs 325.99 crore for the same quarter in the previous year. The total income of the company increased 12.65% at Rs 3,491.01 crore for Q3FY23 as compared to Rs 3,099.12 crore for the corresponding quarter previous year.

L&T Finance Holdings is one of India’s most valued and fastest-growing Non-Banking Financial Companies (NBFCs). The company offers a diverse range of financial products and services in rural, housing and infrastructure finance sectors. It also offers Investment management services. The company is promoted by Larsen & Toubro Limited, one of the leading companies in India, with interests in engineering, construction, electrical and electronics manufacturing and services, information technology and financial services, as a holding company for its financial services business.

Today, the stock opened at Rs 92.25, with a high and low of Rs 98.25 and Rs 92.00. The stock previously closed at Rs 92.45. The stock is currently trading at Rs 96.05, up by 3.89%.

In the last six months, the shares of the company have given more than 30% returns and in the last one year, it has given about 18% returns.

The stock has a 52-week high of Rs 98.25 and a 52-week low of Rs 58.00. The company has a ROCE of 6.58% and an ROE of 4.66% with a market capitalisation of Rs 23,805 crore.

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