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L&T Finance said its retail disbursements for Q2FY25 stood at Rs 15,070 crore, registering a growth of around 12 per cent compared to Rs 13,499 crore recorded in Q2FY25 24.
Rural enterprise finance disbursements stood at Rs 5,430 crore (down 5.4% YoY), farmer finance disbursements stood at Rs 1,780 crore (up 16.04% YoY), urban finance disbursements stood at Rs 6,280 crore (up 29.24% YoY) and SME finance disbursements were recorded. to Rs 1,240 crore in Q2 FY25 (up 42.2% YoY).
The value of the acquired portfolio for Q2FY25 was Rs 340 crore.
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The retail loan portfolio at the end of Q2FY25 was estimated at around Rs 88,950 crore, up 28.13% on a year-on-year basis.
Retail portfolio sales were around 96% at the end of Q2FY25, compared to 88% in Q2FY24.
Meanwhile, the company has allotted 30,000 listed, secured, rated, redeemable and non-convertible debentures of face value of Rs 1 lakh each, totaling Rs 300 crore through private placement.
L&T Finance offers financing for two-wheelers, consumer goods, houses, agricultural equipment, women entrepreneurs, rural groups, real estate and infrastructure. It provides financing to small and medium-sized businesses through term loans and overdraft facilities.
The investment firm reported a 29.11% increase in consolidated net profit at Rs 685.51 crore on a 12.08% increase in total income at Rs 3,784.61 crore in Q1FY25 compared to the first quarter of FY24.
The counter fell by 3.37% to end at Rs 174.95 on Friday, October 4, 2024.
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First publication: October 5, 2024 | 2:31 p.m. STI