L&T FINANCE HOLDINGS Announces Quarterly Results (3QFY19); Net Profit Up 51.3%

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L&T FINANCE HOLDINGS Announces Quarterly Results (3QFY19); Net Profit Up 51.3%
Tue, 22 Jan

L&T FINANCE HOLDINGS has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

L&T FINANCE HOLDINGS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m26,30232,46332,440-0.1%23.3%
Other incomeRs m7097972,724241.6%284.5%
Total revenuesRs m27,01033,26035,1645.7%30.2%
InterestRs m13,59616,49718,64713.0%37.2%
Gross Profit Rs m12,57815,84913,670-13.7%8.7%
Other expensesRs m8,8068,6708,636-0.4%-1.9%
Profit before taxRs m4,4777,9767,758-2.7%73.3%
TaxRs m6362,3851,949-18.3%206.5%
Profit after taxRs m3,8415,5915,8103.9%51.3%
Gross profit margin %47.848.842.1
Effective tax rate%14.229.925.1
Net profit margin%14.617.217.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 23.3% on a year-on-year (YoY) basis. The interest expended was up by 37.2% YoY during the same period.
  • The bank's operating profit increased by 8.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.1% in 3QFY19 as against 47.8% in 3QFY18.
  • Other income increased by 284.5% YoY during the quarter.
  • Net profit for the quarter increased by 51.3% YoY. Net profit margins during the quarter increased from 14.6% in 3QFY18 to 17.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 13.0% QoQ during the same period.
  • The bank's operating profit declined by 13.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.1% in 3QFY19 as against 48.8% in 2QFY18.
  • Net profit for the quarter increased by 3.9% QoQ, while net profit margins increased from 17.2% in 2QFY18 to 17.9% in 3QFY19.

To see how L&T FINANCE HOLDINGS has performed over the last eight quarters, please visit here.

L&T FINANCE HOLDINGS Share Price Performance

Over the last one year, L&T FINANCE HOLDINGS share price has moved up from Rs 178.3 to Rs 136.3, registering a Loss of Rs 42.0 or around 23.6%.

Overall, the S&P BSE SENSEX is up 1.8% over the year.

Current Valuations

At the current price of Rs 136.3, the price to earnings (P/E) ratio of L&T FINANCE HOLDINGS stands at 12.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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