The share of the financing company in green after it gets USD 125 million from the Asian Development Bank to support farmers and rural women in India.
With a market capitalization of Rs. 35,168 crores, the shares of L&T Finance Ltd started Friday’s trading day flat at Rs. 142.85. The share hit a high at Rs. 143.70 and is currently trading at Rs. 141.65 apiece.
According to reports, L&T Finance Ltd has signed a financing pact with the Asian Development Bank (ADB) worth USD 125 million to support financing in rural and peri-urban areas in India, particularly for women borrowers.
Along with a loan of USD 125 million, the company received a commitment to coordinate an additional USD 125 million in co-financing from various other development partners. In which a minimum of 40 percent of the funds is designated for female borrowers, while the remaining portion will be utilized to assist farmers, Small, Micro, and Medium-sized Enterprises (MSMEs), and loans for the acquisition of new two-wheeled vehicles.
Looking at the Financial statements, the company’s revenue decreased marginally by 0.2 percent from Rs. 3,222 in the June quarter to Rs. 3,213 crores in the September quarter. On a contrasting note, the net profit increased by 12 percent from Rs. 530 crores to Rs. 595 crores during the same timeframe.
According to the latest shareholding pattern, the Promoters have a 66.02 percent stake, the Public or the Retail Investors have 14.85 percent holdings, DIIs have a considerable stake of 12.11 percent, and the remaining 7.02 are with DIIs.
Headquartered in Mumbai, L&T Finance Ltd is one of the leading Non-Finance Banking Company (NBFC). The company provides services to the diverse financing needs of served and underserved customers and it offers Consumer loans, Two-Wheeler loans, Home loans, Micro loans, Farm loans, and SME loans.
Written By Vaibhav Patil
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