L&T Finance Q4 Results: Annual PAT up 43% YoY, at All-Time High

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L&T Finance’s Q4 results were released on 26 April 2024, with, as the Company puts it “Pedigree in Profitability” and key financial parameters. Standing out is the quarterly PAT (Profit After Tax) at ₹554 Crore, up YoY by 11%, after which comes the all-time high Q4 disbursements that have exceeded those of the previous festive quarter and stood at ₹15,044 Crore, up by 33% YoY and sequentially up by 4% on a QoQ basis. The financial legacy Company has also impressed with its Q4 Consolidated Asset Quality rising above targets set forth by the Company.


Among the key players in the NBFC segment in India and backed by the legacy L&T, L&T Finance’s results for Q4 FY2023-24 is impressive. With many highs in Q4 and FY24, the Company is in ship shape to sail into the next fiscal year with strength and robust operational skill. First things first, L&T reported a historic Annual PAT of ₹2,320 Crore, and the Q4 PAT was an equally high quarterly figure at ₹554 Crore. The L&T Group has always had a reputation of being nothing short of reliable, yet impressive, and L&T Finance follows suit with its robust business model, displaying its highest-ever quarterly retail disbursements at a growth of 33% YoY. The Company is just into the second year of its Lakshya 2026 strategy and already reporting a retalisation of 94% when it comes to rising above its goals well in advance of targets. 

Explore: L&t Finance Limited Share Price

5 Key Financial Highlights

LTF is amongst the top when it comes to financial institutions, providing Rural Business Finance, Farmer Finance, Personal loans, Twowheeler Finance, Home Loans & Loans Against Property, and SME Loans. The Company boasts a sustainable business model with a customer-oriented approach and data analytics-led collection and disbursements. Its main concentration is on Asset Quality, as it is committed to being a stable organisation. Here are 5 key financial (Consolidated) highlights in the L&T Finance Q4 results that lay testament to the fact of its steady nature:

  • For Q4, the PAT was at ₹554 Crore relative to ₹501 Crore in the previous fiscal year’s same quarter, up this Q4 by 11% YoY against Q4 FY’23
  • The Net Interest Income (NII) was at ₹1,909 Crore relative to ₹1,679 Crore in Q4 FY23, up 14% YoY. Net Interest Margin + Fees & Other Income was at 11.25% compared to 9.21% (Q4 FY23), up 204 bps YoY
  • Retail Disbursements were at ₹15,044 Crore as against ₹11,282 Crore (Q4 FY23), up 33% YoY 
  • Return on Assets (ROA) stood at 2.19% relative to 1.90% (Q4 FY23), up 29 bps YoY 
  • Return on Equity (RoE) stood at 9.53% against 9.37% (Q4 FY23), up 16 bps YoY

Additional Read: 129 Indian Companies to Release Q4 Results

Strength in Q4 Numbers = Overall Strength

As far as the financial figures go in the L&T Finance Q4 results, the numbers say it all for this chief NBFC. With strength in numbers leading to overall annual result strength, the Company posted some other highlights of its business and operational prowess in its Q4 result report: 

  • The Board has recommended a final dividend of ₹2.50 per equity share (face value at ₹10 per share) FY 2023-24 at the board meeting held on 27 April 2024, being the highest declared dividend by the Company to date.
  • Exhibiting robust retail asset quality, GS3 stood at 2.84% relative to 2.95% (Q4 FY23) on a QoQ basis and 3.41% on a YoY basis
  • NS3 stood at 0.62% relative to 0.64% (Q4 FY23) on a QoQ basis and 0.71% on a YoY basis

Additional Read: Quarterly Results

Success Across Segments

L&T Finance's Q4 results and FY24 performance emphasise success across its diverse business operations. Here are some key insights to ponder: 

  • Rural Business Finance experienced the highest-ever quarterly disbursements at ₹5,768 Crore, up 31% YoY, while Farmer Finance disbursements were down by 2% YoY. This was led by a focused effort at customer retention. 
  • Two-wheeler Finance disbursements were up by 45% on a YoY basis, on the back of geographic penetration and valued client relationships. 
  • Housing Loan Finance witnessed the highest quarterly disbursements at a rise of 70% YoY (due to deepening geographic penetration), while Personal Loan disbursements were down 27% YoY. 
  • SME Finance disbursements were up 80% YoY, driven by geo expansion and rising channel partnerships. 

Major Financial Metrics - Consolidated Q4 (FY2023-24) Financial Results (Income Statement) of L&T Finance (in ₹ Crore)


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LTF Q4 Results - Things to Come

On a successful growth path to realise its Lakshya strategic retailisation consolidated goals by FY26, the aim being more than 95% of retail disbursements to be achieved, the Company has already met most of its targets towards this in FY24. In Q4 FY24, the Company’s Retail Book was at a 31% YoY growth and a 7% QoQ growth. With the granular execution of its 5-Pillar Plan, L&T Finance is climbing mountains with each quarter and will continue its lucrative endeavours into FY25. With the sustained improvement in credit parameters spanning all businesses, the Company is set to succeed, reaching new heights in the months to come with its Consolidated GS3 reduced 159 bps YoY to 3.15%. After viewing the numbers and the retail strategy of this thinking NBFC, it is clear that it is on the right path. 

Additional Read: Annual Results


You could say that L&T Finance has made all the right moves to get where it is today. As the Company embarks on the new fiscal year, it brings much value to the table in the sector and may well lead by example. With the enhancement in client acquisition, sharpening credit underwriting, and constant efforts at boosting and maintaining existing portfolio metrics, the Company is sure to make a mark in this industry.

Results for the Fourth Quarter and Full Year Ended March 31, 2024


L&T Finance Investor Presentation on BSE

L&T Finance Press Release on BSE

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

Which of L&T Finance’s businesses did exceptionally well in Q4?

Answer Field

The SME Finance business of the Company did exceptionally well with the maximum disbursements across all segments.

By what percentage did the PAT rise as per L&T Finance’s Q4 results?

Answer Field

The PAT rose by 11% YoY as per the Q4 result report.

What does L&T attribute its quarterly success to in Q4 FY2024?

Answer Field

L&T Finance attributes its success in Q4 FY24 to its sustainable business model and the acquisition of new clients as well as steady growth in its operations across all segments. 

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