1. Larsen & Toubro reports 6.5 pct rise in quarterly profit

Larsen & Toubro reports 6.5 pct rise in quarterly profit

Indian industrial group Larsen & Toubro Ltd (L&T) reported a 6.5 percent rise in its second quarter profit...

By: | New Delhi | Updated: November 8, 2014 7:30 PM
Larsen & Toubro Ltd (L&T) reported a 6.5 percent rise in its second quarter profit. Reuters

Larsen & Toubro Ltd (L&T) reported a 6.5 percent rise in its second quarter profit. Reuters

Larsen & Toubro Ltd (L&T) reported a 6.5 percent rise in its second quarter profit on Friday, beating analyst forecasts after winning new orders in its infrastructure, power and hydrocarbons businesses.

The company said in a statement that net profit came in at 10.42 billion rupees ($169 million) for the three months to September 30. The average estimate of eleven analysts polled by Thomson Reuters was for L&T to make 9.52 billion rupees.

Last year L&T, which lays roads, constructs ships, makes power plant equipment and develops real estate, reported net profit of 9.78 billion rupees.

  1. H
    Harry Potter
    Nov 13, 2014 at 2:08 pm
    Q1-2014 Dhamra Port stake sell to Adani saved l&t from posting losses. Q-2 I guess it's - stake sell at L&T Infra to FII - Canadian pension fund? Where did they cover losses of 900 cr in ship building - how about 5k cr of stagnating investment in defence. Still on a look out for 1500 cr more of Viability Gap Funding for Hyderabad Metro. What the secret recipe? Post q1 plunge of 8 %, biggest since July 2009. L&T got some good breather. Modi Wave (Make in India, Rock Star at Madison Square), Mars mission (ISRO's FEAT - L&T also piggybacked) - Statue of Unity - kept L&T above 1300. Its reality check now, Shall we fear 52 week low this week? Devil lies in details - L&T has displa typical geriatric trait of biting more than they can chew. Hydrocarbon projects losses of 900 cr. Asking GoT to give 'viability gap funding' of 3k crs for Hyderabad Metro. How many farmers get this 'VGF' before committing suicide? L&T top bres were on a selling spree - leading the pack is Mr Naik sold shares worth 70 cr in 20 days - March-2014. How about top 100 L&T executives contributing 30 crs each for this 'VGF' of 3k cr? How many other bidders would have won the contract? Please refer Forbes India articles - "L&T Defence Dilemma" - "L&T armed but not commissioned". 900 cr losses at shipbuilding - 5000 cr of investment in defence at risk - do they want VGF from GoI? Please refer BS articles - "L&T 30,000 crores of international orders at risk" - "why analyst are angry with L&T". Shall we fear 52 week low in coming weeks?
    Reply
    1. H
      Harry Potter
      Nov 8, 2014 at 5:29 pm
      -------------------------Thank God it was Friday wait for Maniac Monday!!-------------------------In q1-2014 Dhamra Port stake sell to Adani was face saver - that saved from posting losses. This quarter I guess it’s - stake sell at L&T Infra to FII - Canadian pension fund? Where did they cover losses of 900 crores in ship building - how about 5000 crores of stagnating investment in defence. Still on a look out for 1500 crores more of Viability Gap Funding for Hyderabad Metro. What the secret recipe (cooking)? They beaten analyst estimates once again!!------------------------------------------------------------------------------------------------------------Thank God it was Friday wait for Maniac Monday!!----------------------The Breather - Post q1 plunge of 8 %, biggest since July 2009, L&T got breather - Modi Wave – (Make in India, Swachch Bharat, Rock Star at Madison Square), Mars mission (ISRO's achievement - L&T also piggybacked) - Statue of Unity - kept L&T up from 1300. Time for reality check - Shall we fear 52 week low in coming week? -------------------------------------Thank God it was Friday wait for Maniac Monday!!----------------------Devil lies in details - L&T has displa typical geriatric trait of biting more than they can chew, implemented international hydrocarbon projects for losses of 900 crores. Asking GoT to give 'Viability Gap Funding' of 3K crores for Hyderabad Metro. Were they not aware of Telangana movement at the time of bidding? How many farmers get this thing – ‘VGF’ before committing suicide? L&T top bres were on a selling spree - leading the pack is Mr Naik sold shares worth 70 cr in 20 days - March-2014. How about 100 profit sharing executives contributing 30 cr each for this 'VGF’? How many other bidders would have won the contract for this VGF of 3k crores? Please refer Forbes India articles - "L&T Defence Dilemma" - "L&T armed but not commissioned". 900 crores losses at shipbuilding - 5000 crores of investment in defence at risk - do they want VGF, bailout from GoI to ensure profits for L&T (top-bres)? Are they doing some CSR? Please refer BS articles - "L&T 30,000 crores of international orders at risk" - "why analyst are angry with L&T. ----------------------------------------------------Thank God it was Friday it is going to be a maniac Monday!!-----------------
      Reply

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