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L&T Finance Holdings rallies 11% on strong Q1 earnings

The stock rallied 11% to Rs 172 after the company reported a healthy 71% yoy growth in consolidated net profit at Rs 5.38 billion driven by strong AUM growth and flat credit costs in June 2018 quarter

L&T Finance Holdings rallies 11% on strong Q1 earnings
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SI Reporter Mumbai
L&T Finance Holdings (LTFH) has rallied 11% to Rs 172 on the BSE after the company reported a healthy 71% year-on-year (yoy) growth in consolidated net profit at Rs 5.38 billion in June 2018 quarter (Q1FY19). This was driven by strong AUM growth and flat credit costs during the quarter. The company had profit of Rs 3.14 billion in the same quarter last fiscal.

“Average Assets under Management (AAUM) in investment management business increased to Rs 711 billion in Q1FY19 from Rs 445 billion in Q1FY18 – a growth of 60%,” LTFH said in a press release.

The

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