L&T Finance Ltd., the lending arm of the Larsen & Toubro group, recorded a 12% year-on-year jump in loan disbursements to Rs 15,070 crore in the quarter ended September 2024, an exchange filing said on Friday.
Among the retail disbursements, the maximum loans were issued under the rural business finance segment at Rs 5,430 crore, lower as compared to Rs 5,740 crore in the same quarter of last fiscal.
However, the loans issued under the urban finance segment climbed to Rs 6,280 crore from Rs 4,859 crore in the year-ago period, as per the provisional data shared by the non-banking financial company.
The loans issued under farmer finance segment also jumped to Rs 1,780 crore from Rs 1,534 crore in the September 2023 quarter.
L&T Finance said its retailisation is estimated at 96% in the second quarter of this fiscal, as compared to 88% in the year-ago period.
The NBFC's retail loan book grew to Rs 88,950 crores during the July-September period, marking a jump of 28% from Rs 69,417 crore in the year-ago quarter.
The business update was shared by L&T Finance after the market hours. The stock settled 3.46% lower at Rs 174.96 apiece on the NSE, compared to a 0.93% decline in the benchmark Nifty 50.
Also Read: L&T Finance Q1 Results Review - Strong Quarter; Stable Asset Quality Metrics: ICICI Securities
The company's shares have risen by 6% on a year-to-date basis and by 35.6% over the past 12 months.
Out of 20 analysts tracking the stock, 16 have a 'buy' rating, one suggests a 'hold' and three recommends a 'sell'. The average of 12-month analysts' price targets implies a potential upside of 17.1%.
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