Motilal Oswal Securities has reiterated its ‘Buy’ rating on L&T Finance at a target price of Rs 370, citing the company’s transformation into a retail-focused, technology-driven NBFC. The brokerage remains positive on LTF’s improving growth visibility, asset quality and profitability, driven by a better customer mix, disciplined underwriting and scalable expansion across high-yield retail segments such as gold loans, micro LAP and housing finance.
L&T Finance in its third quarter result for financial year 2026 reported an 18 per cent increase in net profit to Rs 739 crore. The Mumbai-based Non-Banking Financial Company (NBFC) had earned a consolidated net profit of Rs 626 crore in the year-ago period.
The consolidated net profit for the December quarter included exceptional items, which comprise a one-time impact due to the ramifications of the New Labour Code, amounting to Rs 29 crore. The total income of the NBFC grew to Rs 4,581 crore, up from Rs 4,105 crore in the same quarter of the previous year, it said.
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