L&T Finance Holdings cons. PAT at Rs591cr in Q3FY20; stock down 5%

L&T Finance Holdings cons. PAT at Rs591cr in Q3FY20; stock down 5% 

L&T Finance Holdings (LTFH) reported a consolidated net profit of Rs591cr in Q3FY20 vs. Rs580cr in Q3FY19. The company’s sales rose 8% yoy to Rs3,630.64cr in the quarter ended December 2019 as against Rs3,359.77cr during the previous quarter ended December 2018.

The company’s pre-provisioning operating profit (PPOP) stands at Rs1,334 for Q3FY20, up 12% yoy.

Dinanath Dubhashi, Managing Director & CEO, LTFH, said, “NBFCs with strong parentage, AAA credit rating and prudent business practices have stood out and asserted their strength over the past year. Our robust business model, diverse sources of funding, steady growth and focus on asset quality, are in line with our strategy of building a stable and sustainable business. We have shown consistent performance across our focused businesses while building our inherent strengths to ensure better than industry performance when demand picks up.”

Stock View:
L&T Finance Holdings Ltd is currently trading at Rs121.10, down by Rs6.15 or 4.83% from its previous closing of Rs127.25 on the BSE.

The scrip opened at Rs126.90 and has touched a high and low of Rs126.90 and Rs119.25 respectively.

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