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L&T Finance Holdings Ltd Q1FY21 consolidated PAT drops to Rs. 148.31 crore
Posted On : 2020-07-16 18:09:51( TIMEZONE : IST )
L&T FINANCE HOLDINGS LTD. has reported financial results for the period ended June 30, 2020.
Financial Results (Q1 FY 2020-21) - QoQ Comparison
The company has reported total income of Rs.3397.53 crores during the period ended June 30, 2020 as compared to Rs.3427.22 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.148.31 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.386.15 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.0.74 for the period ended June 30, 2020 as compared to Rs.1.92 for the period ended March 31, 2020.
| Financials | Q1 FY2020-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 3397.53 crs | ₹ 3427.22 crs |  -0.87% |
| Net Profit | ₹ 148.31 crs | ₹ 386.15 crs | -61.59% |
| EPS | ₹ 0.74 | ₹ 1.92 | -61.46% |
Financial Results (Q1 FY 2020-21) - YoY Comparison
The company has reported total income of Rs.3397.53 crores during the period ended June 30, 2020 as compared to Rs.3689.50 crores during the period ended June 30, 2019.
The company has posted net profit / (loss) of Rs.148.31 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.548.79 crores for the period ended June 30, 2019.
The company has reported EPS of Rs.0.74 for the period ended June 30, 2020 as compared to Rs.2.74 for the period ended June 30, 2019.
| Financials | Q1 FY2020-21 | Q1 FY2019-20 | % Change |
| Total Income | ₹ 3397.53 crs | ₹ 3689.50 crs | -7.91% |
| Net Profit | ₹ 148.31 crs | ₹ 548.79 crs | -72.98% |
| EPS | ₹ 0.74 | ₹ 2.74 | -72.99% |
Commenting on the financial results Mr. Dinanath Dubhashi, Managing Director & CEO, LTFH, said, "The results of this quarter should be seen less as a quarterly result and more from the viewpoint of fortifying the company from any challenges arising in post-Covid scenario. Also, the various parameters should not be viewed on absolute levels but on the basis of progressive development from April to June as the company took advantage of gradual unlocking of markets.
As the world embraces the 'new normal' by adapting to the radical changes brought about by the pandemic, LTFH with its prudent business initiatives & proactive response mechanism, aided by the definite green shoots in the rural economy, is well poised to take it in its stride. This quarter, we focused on restoring the collection rhythm and maintaining the asset quality, especially through on-field customer outreach in non-containment zones. Our investments in digitalization and data-analytics capabilities over the past few years helped us switch gears seamlessly and enabled all our stakeholders to engage electronically. Enhanced provisioning, stronger risk controls, ample liquidity, along with a resilient business model and the revival seen in the rural economy from June onwards, give us the confidence that we will bounce back faster to the pre-Covid levels than anticipated."
Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.59.8 as compared to the previous close of Rs. 60.85. The total number of shares traded during the day was 2246808 in over 8135 trades.
The stock hit an intraday high of Rs. 61.25 and intraday low of 58.4. The net turnover during the day was Rs. 133885103.
