Page 4 - L&t Finance

L&T Finance Q3FY18 consolidated net profit up 42% to Rs 3.84 billion

Company to continue consolidating subsidiaries and scaling down wholesale lending

Citigroup sells L&T Finance shares worth Rs 637 cr

Citigroup today offloaded more than 3.5 crore shares of L&T Finance Holdings, financial services arm of the engineering major L&T, for a little over Rs 637 crore through an open market transaction. However, the buyer (s) of the shares could not be ascertained immediately. According to bulk deal data available with the NSE, Citigroup Global Markets Mauritius Pvt Ltd sold a total of 3,51,03,103 shares, amounting to 1.92 per cent stake, of L&T Finance. The scrips were offloaded on an average price of Rs 181.51, valuing the transaction at Rs 637.15 crore. As of September quarter, Citigroup held over 10.04 crore shares or 5.51 per cent stake in the company. In a separate bulk deal on the exchange, Gaja Capital and GPE India together sold over 8.1 lakh shares of staffing firm Teamlease for about Rs 153 crore. Meanwhile, T Rowe Price International and International Discovery Fund purchased over 8.36 lakh shares of Temalease at Rs 1,885 apiece translating into a ...

Tough calls deliver big payoff at L&T Finance

In an industry where it is tough to trim business verticals, L&T Finance Holdings is as an example of having taken the bold decisions. Until a year or so back, the company was reckoned as an 'all-in-one' financier. From there, it has axed more than half of its verticals, thus reducing its operations from 22 business verticals to just three major segments, thereby letting go of lending to commercial vehicles, construction equipment, cars, leases, small and medium enterprises and so on. This business reengineering was done with the objective of improving its return on equity (ROE) and the company has set a target of 20 per cent by FY20. Trimming operations is already yielding the desired results. The company's ROE has improved from nine per cent at the start of the exercise in FY16 to 13 per cent in December'16 quarter (Q3). Operations are also structured towards this objective. For example, the rural financing segment focuses on farm equipment loans, two-wheeler loans and micro ...

L&T Finance promotes Dinanath Dubhashi as Managing Director

Prior to joining LTFS, Dubhashi was associated with organisations such as BNP Paribas, CARE Ratings and SBI Caps

L&T Finance Q1 net rises 8% at Rs 207 cr

Total income has increased to Rs 2,031 crore for quarter

L&T Finance may sell stake in MF business

Firm begins evaluation process, might exit from MF biz

L&T Finance: Wholesale lending drive growth

Shifting focus from project finance, L&T Finance has re-jigged business towards lower gestation sectors like renewable energy and roads

L&T Finance-IDBI deal prospects slim

Regulators may not approve a potential merger, say analysts