L&T Finance reports tepid Q2 results
L&T Finance Holdings’ Q2 consolidated net profit rose by approximately 65 per cent and came in at Rs. 560.41 crore as against Rs. 337.53 crore in the same quarter of the previous fiscal year. Gross NPA was down to Rs. 6,119 crore, while net NPA was at Rs. 2,296 crore.
Despite posting positive financial numbers, the company’s shares have touched its 52-week low of Rs. 111.20 per share on Thursday.
L&T Finance Holdings offers a range of financial products and services across the corporate, retail and infrastructure finance sectors through its wholly-owned subsidiaries. It operates primarily in the business segment of investment activity.
On Thursday, the shares of the company opened at a lower level at Rs. 114.90 per share against Wednesday’s close of Rs. 126.60 on the BSE. At 12:50 hours, the share was trading at Rs. 116.90, down by 7.66 per cent. The intraday high was Rs. 122.25 and intraday low was Rs. 111.20 per share on the BSE. Its 52-week high was Rs. 213 and 52-week low was Rs. 111.20 per share on the BSE. While Sensex was at 33,662.76 level, down by 1.09 per cent.