Q4FY18 Result: LT Finance Holdings posts PAT growth of 28 per cent

L&T Finance Holdings reported its results for the quarter ended March 31, 2018, on Thursday after market hours.

The company's NII for the quarter increased by 30.1 per cent yoy and 3.2 per cent qoq to Rs. 1,311 crore in Q4FY18 as against Rs. 1,271 crore in Q3FY18 and Rs. 1,007 crore in Q4FY17. The interest income for the company grew by 26.9 per cent yoy to Rs. 2,748 crore in Q4FY18 vs Rs. 2,166 crore in Q4FY17.

On a full year basis, the NII grew significantly by 26.4 per cent yoy to Rs. 4,695 crore vs Rs. 3,713 crore in FY17. Further, the interest income grew by 20 per cent yoy to Rs. 10,021 crore vs Rs. 8,341 crore in FY17.

The net profit for the quarter came in at Rs. 406 crore, grew by 28.5 per cent as compared to Q4FY17. On a full year basis, the net profit jumped by 40 per cent yoy to Rs. 1,459 crore vs Rs. 1,042 crore in FY17.

The company has increased its provision coverage ratio to 52.51 per cent as on March 31, 2018 as against 31.00 per cent as on March 31, 2017, thus improving its balance sheet strength further. The company’s cost to income ratio has reduced to 23.16 per cent in FY18 from 26.18 per cent in FY17 on the back of productivity and efficiency gains.

L&T Finance also declared strong growth in its Investment & Wealth Management businesses. Average Assets under Management (AAUM) in Investment Management business increased to Rs. 65,932 crore in Q4FY18 from Rs. 39,300 crore in Q4FY17, a growth of 68 per cent. Average Assets under Service (AAUS) in Wealth Management business increased to Rs. 18,346 crore in Q4FY18 from Rs. 13,623 crore in Q4FY17, a growth of 35 per cent.

The Board of Directors declared a final dividend of Rs. 1 per share of the face value of Rs. 10 each.

On Thursday, the stock opened at Rs. 173.40 per share and touched an intra-day high and low of Rs. 173.60 and Rs. 168.75, respectively and finally closed at Rs. 171.65, on the BSE.