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- L&T FINANCE HOLDINGS Announces Quarterly Results (3QFY19); Net Profit Up 51.3%
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 Change | YoY Change | |
|---|---|---|---|---|---|---|
| Operating income | Rs m | 26,302 | 32,463 | 32,440 | -0.1% | 23.3% |
| Other income | Rs m | 709 | 797 | 2,724 | 241.6% | 284.5% |
| Total revenues | Rs m | 27,010 | 33,260 | 35,164 | 5.7% | 30.2% |
| Interest | Rs m | 13,596 | 16,497 | 18,647 | 13.0% | 37.2% |
| Gross Profit | Rs m | 12,578 | 15,849 | 13,670 | -13.7% | 8.7% |
| Other expenses | Rs m | 8,806 | 8,670 | 8,636 | -0.4% | -1.9% |
| Profit before tax | Rs m | 4,477 | 7,976 | 7,758 | -2.7% | 73.3% |
| Tax | Rs m | 636 | 2,385 | 1,949 | -18.3% | 206.5% |
| Profit after tax | Rs m | 3,841 | 5,591 | 5,810 | 3.9% | 51.3% |
| Gross profit margin | % | 47.8 | 48.8 | 42.1 | ||
| Effective tax rate | % | 14.2 | 29.9 | 25.1 | ||
| Net profit margin | % | 14.6 | 17.2 | 17.9 |
Interim results exclude extraordinary / exceptional items
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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