BQ Blue’s special research section brings together in-depth and quality research reports on stocks and the economy from top Indian brokers, asset managers and research agencies. These reports provide BloombergQuint subscribers with the opportunity to deepen their understanding of businesses, industries and the economy.
Motilal Oswal Report
L&T Finance Holdings announced a PAT of Rs 2.23 billion at T2FY22 (online). While the PPoP stood at Rs 11 billion (9% beat), higher credit provisions / costs of Rs 7.8 billion (12% more than our estimate) led to an online PAT.
The loan portfolio continued to consolidate and stood at Rs 869 billion (down ~ 12% year-on-year / 2% quarter-on-quarter), driven by Infra, LAP loans and defocused activity. The rural finance book has shown solidity, notably thanks to a return to a normalized monthly disbursement rate in micro-loans on September 21.
Additional provisions (including OTR) amounted to Rs 17.5 billion (2.2% of standard loans). As part of OTR 2.0, LTFH restructured loans worth Rs 18.1 billion (2.1% of the loan portfolio). The overall restructured portfolio amounted to 3.5% (including the repayment of Rs 1.5 billion in an Infra asset which was restructured into OTR 1.0).
Click on the attachment to read the full report:
This report is written by an external party. BloombergQuint does not guarantee the accuracy of its content and is not responsible for it. The content of this section does not constitute investment advice. For this, you should always consult an expert according to your individual needs. The opinions expressed in the report are those of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify or distribute the content without the permission of the original owner.