The NBFC announced that its board has approved the raising of funds by issuance of non-convertible debentures (NCDs) in one or more tranches, such that at any point of time the NCDs issued and outstanding does not exceed Rs 1,01,000 crore.
The NCDs include subordinated-debt, masala bonds and perpetual debt. The amount has been decided as per the sub limits approved by the board, and within the overall borrowing limits approved by the members.Meanwhile, the company received an order whereby the Assistant Commissioner of Central Tax of Hyderabad, Telangana has imposed a monetary penalty of Rs 8,31,810 for short payment of taxes & excess claim of ITC. The firm is contesting the order in appellate forum(s) and it does not reasonably expect the order to have any material financial impact.
L&T Finance Holdings is a non-banking financial company (NBFC). The company offers rural group loans & micro finance, farm equipment loans, two-wheeler loans, personal loans, home loans & loan against property as well as SME Loans.
The company reported 41.12% jump in consolidated net profit to Rs 640.18 crore on 2.58% to rise in total income to Rs 3,581.26 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.14% to currently trade at Rs 148.20 on the BSE.
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