Shares of L&T Finance Holdings Limited, the non-banking finance company and a subsidiary of Larsen & Toubro, hit a fresh 52-week high at Rs 140.40 on the National Stock Exchange (Rs 140.30 on BSE) this morning, driven by strong results.
However, the stock pared its gains soon and is currently trading at Rs 136.50, up just marginally from previous closing price.
On the National Stock Exchange, nearly 7.1 million shares have changed hands so far at the L&T Finance Holdings counter this morning. On BSE, the counter has clocked a volume of nearly 6.5 lakh shares so far in the session.
The company reported a 33.3% jump in net profit at Rs 315.8 crore for the quarter ended March 2017, over the corresponding quarter last financial year. Net Interest Income rose nearly 21% to Rs 1004.6 crore in the fourth quarter, over year-ago period.
The company's Gross NPAs, in absolute terms, stood at Rs 3146 crore as on 31 March 2017, as compared to Rs 2940.1 crore by the end of the preceding quarter. Gross NPA
Net NPAs, in absolute terms, were Rs 1799 crore as on 31 March 2017, down from to Rs 1843.6 crore a quarter earlier.
Thanks to improvemet in rural portfolio, the company's net NPA dropped substantially to 2.89% in the quarter. A quarter earlier, Net NPA was 3.82%. Meanwhile, Gross NPA was almost flat at 4.94%.
