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Business News/ Companies / News/  L&T Finance Holdings board recommends final dividend of 2 per share, details here

L&T Finance Holdings board of Thursday has declared a final dividend for the financial year 2022-23.

The company's board of directors have recommended  a final dividend of 2 per share of  face value of 10.

“The Board of Directors of the Company at its Meeting held on June 08, 2023 has, inter alia, recommended a final dividend of Rs. 2 per Equity Share (face value Rs. 10 per share) for the financial year 2022-23. The dividend, if approved by the Members at the ensuing Annual General Meeting (“AGM") will be credited / dispatched within 30 days from the date of AGM," said L&T Finance Holdings.

For the March quarter, L&T Finance Holdings reported a 47 per cent rise in net profit at 501 crore. This is against a net profit of 342 crore in the year-ago period.

The growth trajectory was led by the highest annual retail disbursements of 42,065 crore across segments.

"This achievement has been on account of a strong year-on-year (YoY) growth of 35% in retail book with best-in-class asset quality and a decisive 54% reduction in the wholesale book," company managing director Dinanath Dubhashi was quoted saying in a statement.

The assets under management for the company shrunk to 80,893 crore at the end of March from 88,341 crore a year back, because of the reduction in wholesale business. The wholesale book saw an accelerated reduction of 54 per cent to 19,840 crore driven mainly by re/pre-payments and refinancing.

The company's scip ended 1.81 per cent down at 105.60 on BSE.


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Updated: 08 Jun 2023, 05:49 PM IST
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