L&T Finance Holdings consolidated Q4 net rises 29% to Rs 406 crore
Posted on 4th May 2018 |
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| L&T Finance Holdings on Thursday reported a 28.5% year-on-year (y-o-y) rise in consolidated net profit for the quarter ended March, 2018 to Rs 405.99 crore on the back of a 31% y-o-y growth in total income to Rs 2,938.44 crore. Its net interest margin (NIM), a key measure of profitability, improved by 27 basis points (bps) sequentially to 5.32%. The company’s asset quality showed improvement, with the gross non-performing asset (NPA) ratio falling 69 bps from the end of December 2017 to 4.8%, while the net NPA ratio improved to 2.34% from 2.87% a quarter ago. The improvement in NPA ratios was across categories, except in the housing book, where the gross NPA inched up by two bps to 0.85%. L&T Finance’s loan book grew 25.5% y-o-y to Rs 83,654 crore at the end of FY18. With the company’s focus on increasing the share of retail loans in its book, the percentage of wholesale loans dropped to 56% at the end of FY18 from 62% at the end of FY17. Housing loans accounted for 22% of the book and rural loans 20%. During the March-ended quarter, L&T Finance clocked a 40% growth in disbursements over the corresponding period a year ago to Rs 22,664 crore. Growth in disbursements was led by rural finance, which saw a 142% y-o-y jump in new loans to Rs 4,394 crore. It was followed by the housing finance category, where disbursements grew 42% y-o-y to Rs 2,858 crore. L&T Finance has been selling down some of the wholesale loans it originates. As a result, while disbursements in this category rose 25% y-o-y in Q4, outstanding wholesale loans on the company’s book at the end of FY18 grew by 13% y-o-y. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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