L&T Finance Holdings, a leading financial institution, announced its Q2 FY24 results, showcasing significant growth in revenue and profit compared to the previous year. The company experienced a 7.07% increase in revenue and an impressive 46.42% rise in profit year-on-year. Additionally, there was a 5.14% growth in revenue and a 12.09% increase in profit compared to the previous quarter. These figures demonstrate the company’s consistent performance and its ability to generate higher returns.
However, L&T Finance Holdings also witnessed an increase in selling, general, and administrative expenses. The expenses rose by 10.4% quarter-on-quarter and 31.14% year-on-year, indicating higher operational and management costs. On a positive note, the company’s operating income showed a slight improvement, with a 1.4% increase quarter-on-quarter and a 3.01% increase year-on-year. This suggests that the company’s core operations are performing steadily.
The earnings per share (EPS) for Q2 FY24 stood at ₹3.58, marking a significant 42.87% increase year-on-year. This indicates improved profitability and higher earnings for shareholders. In terms of stock performance, L&T Finance Holdings has delivered impressive returns, with 58.34% year-to-date return. The company’s market capitalization stands at ₹34,303.61 Crores, and its stock price has shown a range of ₹141.25 as the 52-week high and ₹78 as the 52-week low. Analysts’ ratings and recommendations reveal a positive outlook, with the majority of analysts giving a Buy or Strong Buy rating. The consensus recommendation as of October 22, 2023, is to Buy L&T Finance Holdings’ stock, affirming market experts’ belief in the company’s growth potential and its attractiveness as an investment option.
