1. Larsen & Toubro shares gain over 5 per cent post Q3 results

Larsen & Toubro shares gain over 5 per cent post Q3 results

Larsen & Toubro (L&T) shares gained after the engineering and construction giant reported a 19 per cent rise in consolidated net profit at Rs 1,034.8 crore for the quarter ended December 31

By: | Updated: February 1, 2016 4:23 PM
In the September 2015 quarter, the company had scaled down its guidance on order inflow to a 5-7% growth, against the earlier forecast of 10%-15%. (Reuters)

Larsen & Toubro (L&T) shares gained after the engineering and construction giant reported a 19 per cent rise in consolidated net profit at Rs 1,034.8 crore for the quarter ended December 31.(Photo: Reuters)

Larsen & Toubro (L&T) shares gained over 5 per cent on Monday after the engineering and construction giant reported a 19 per cent rise in consolidated net profit at Rs 1,034.8 crore for the quarter ended December 31.

At 11.43 am, L&T shares were trading were trading 4.20 per cent up at Rs 1148.50. The scrip opened at Rs 1125.00 and touched a high and low of Rs 1159.00 and 1120.00, respectively, in trade so far. Later, the scrip closed 1.81 per cent up at Rs 1122.15.

So far, around 2.27 lakh shares of Larsen & Toubro exchanged hands on the BSE as compared with two-week average daily volume of 3.12 lakh shares.

The company had clocked a net profit of Rs 866.5 crore in the year-ago period, it said in a BSE filing. Total income firm rose by 8 per cent to Rs 25,829.3 crore in the October-December quarter this fiscal from Rs 23,847.9 crore during the same quarter in 2014-15.

The firm’s total expenses were, however, higher at Rs 23,799.2 crore from Rs 21,641.2 crore during the reported quarter.

The International revenue during the quarter at Rs 9,066 crore constituted 35 per cent of the total revenue.

On outlook, the company said: “Domestic economy continues to face headwinds to growth despite favourable macroeconomic factors. Tight liquidity and weak global cues have kept the markets tentative.”

It however, said that improved fiscal position at Central and State levels, moderated inflation, softer interest rates, increased allocations on plan expenditure, accelerated reforms and business enabling policy initiatives are expected to better the investment climate in India.

“Given its large order book, execution capabilities and proven track record, the firm stays prepared to harness the business prospects as they emerge. The company is focusing on profitable execution and is confident of its growth in the near to medium term,” it added.

L&T won orders worth Rs 38,528 crore at the group level during the quarter ended December 31. The International order inflow during the quarter at Rs 11,115 crore constituted 29 per cent of the total order inflow.

  1. H
    Harry Potter
    Feb 1, 2016 at 7:04 am
    L&T's Business Model - Bag contracts & Burn investor’s money & Beg VGF - Viability Gap (in making sound decision) Funding from Taxpayer, cry for RBI rate cuts. L&T’s investment of 5k cr in Defence is junking & Hyderabad Metro & Hydrocarbon Business is bleeding; they concede it as, Error of Judgment & Underestimating Risks - Aggressive Bidding & Overestimating Capabilities. L&T Stock hitting fresh 52-Week lows, slashed by 35 % in 6 months, net debt ending Sep 2015, 98 k cr & M-cap as on 01 Feb 2016, 1 lakh 6k cr. Achhe Din – 3 L&T Executives are in 2015 Top-10 earning pros of India Inc. put together pegged at 58.9 cr. Who owns L&T? -----------------------------------------Who owns L&T? Founded by Danish duo in 1938, Mr Ln and Mr Toubro are no more and their families having no involvement with L&T. L&T Top-Deck consists of septuagenarians joined L&T in 60s. Leading the pack for 16 years Junior Engineer turned Executive Chairman, Mr A M Naik aged 73, completed 50 years with L&T, highest paid executive of India Inc, pegged at 27 cr - Chairman Mr Naik's jaw-dropping musings on succession at L&T –Quote- You find a man in the world who will kill himself 4 times a day, has worked for more than a 100 years--There is no such person--None of us here are working for money -UnQuote. Chairman off-Satyam on Book Cooking - “it was like riding a tiger, not knowing how to get off without being eaten". State owned LIC & UTI are biggest stakeholders at L&T. PM Mr Modi (Pradhan Sevak) should intervene to fix retirement age at L&T from 75 to 60. All aged 60 should be Vacuumed Out of L&T - Swachh & Young L&T !
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