About the Company:
Larsen & Toubro Financial Services is a subsidiary which is a non-banking financial company established in November 1994. The subsidiary has financial products and services for corporate, construction equipment’s etc. This became a division in 2011 after the company declared its restructuring. It is a partnership between L&T Finance and Sonalika Group farm equipment maker International Tractors Ltd in April 2014 provided credit and financing to customers.
QoQ & YoY Performance:
Non-banking financial services company has declared the results for the second quarter of financial year ending March 2020.
- Performance: Consolidated Net sales/ revenue of the company recorded to Rs.3611.31 crores, up by 0.47% in the September quarter of FY20. Total expenditure (excluding interest and depreciation expenses) are Rs.1041.72 crores, is up by 3.33%. EBITDA numbers declined by 0.42%.
- YoY Performance: The Company has reported a 0.47% increase in sales/revenue while expenditure (excluding interest and depreciation expenses) of the company have witnessed an uptake by 23.50%.
- Profitability of the company: Net profits of the company landed to Rs.174.51 crores, reduced by 68.24% QoQ and declined by 68.79% YoY.
As per Lokesh Sethia, SEBI Registered, the stock is trading at Rs.83.35 per share. The company has declared weak PAT at 174.51 declined by 68.24% and the impact of change in the rate on opening deferred tax is 473.38. So avoid to take any positions in the stock.