L&T Finance Holdings hits 52-week low post September quarter results

The stock slipped 13% to Rs 111, also its 52-week low on the BSE in early morning trade, on the back of heavy volumes.

Shares of L&T Finance Holdings (LTFH) have slumped as much as 13% to Rs 111 per share, also their 52-week low on the BSE in early morning trade, despite the company reporting a strong 66% year-on-year (Y-o-Y) growth in its consolidated net profit of Rs 5.60 billion in September quarter (Q2FY19).  Net interest income (interest income minus interest expense) grew 54% to Rs 11.26 billion over the previous year quarter.

Having achieved a RoE (return on equity) of 18.45% in Q1FY19, LTFH has maintained its profitability with 18.47% RoE in Q2FY19. This has been achieved on the back of