L&T Financial Holdings reports growth in retail distribution, stock trades higher

Retail disbursements for Q2FY24, grew 32 percent year on year to Rs 13,490 crore, L&T Financial Holdings said in a business update.

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L&T Financial Holdings stock opened 3 percent higher on October 5, a day after the company reported Rs 13,490 crore in retail disbursements. At 9:30 am, the stock was trading at Rs 132.75 on the NSE.

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In a regulatory filing on October 4, L&T Finance Holdings said that the retailisation of the portfolio is estimated at 88 percent at the end of Q2FY24, against 58 percent for the same period last year.

According to the filing, Retail disbursements for Q2FY24, grew 32 percent year on year to Rs 13,490 crore.

On a quarter-to-quarter basis, Farmer Finance grew from Rs 1,304 crore to an estimated Rs 1,530 crore in Q2FY24, Rural Business Finance grew from Rs 4,418 crore to Rs 5,740 crore, Urban Finance grew Rs 4,166 to Rs 4,860, SME Finance grew Rs 201 crore to Rs 870 crore and Acquired Portfolio grew from Rs 149 crore to Rs 490 crore for the same period.

The retail loan book at the end of Q2FY24 also grew 33 percent year-on-year to an estimated Rs 69,400 crore.

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Mumbai-based L&T Finance Holdings is a Non-Banking Financial Company (NBFC) “catering to the diverse financing needs of served and underserved customers”. Through L&T Finance,  the company offers Consumer loans, Two-Wheeler loans, Home loans, Microloans, Farm loans, and SME loans.

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