L&T Finance Q1 result surpasses targets with record profits and rapid retail expansion
L&T Finance Holdings Ltd. reported a significant increase in its Profit After Tax (PAT) for Q1FY24, reaching Rs.
531 crore, a growth of 103% compared to the previous year. The company achieved its Lakshya 2026 goal of over 80% retailisation well ahead of schedule.
The PLANET app, an integral part of their digital strategy, has surpassed 44 lakh downloads. L&T Finance has seen strong retail disbursements in Q1FY24, totaling Rs.
11,193 crore, a YoY increase of 25%, driven by growth across all retail segments and the implementation of advanced digital and data analytics. The wholesale book has been reduced by 65% YoY, amounting to a reduction of Rs.
25,992 crore, aligning with their goal of transforming into a leading retail finance company. The company is making progress on the proposed merger of entities to establish a consolidated single entity structure.
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