Larsen & Toubro Q3 net profit up 13% on strong order wins, beats forecast
concerns and impaired investment climate.
"Speedy implementation of proposed reforms and follow-through policy measures hold the key for rediscovery of the growth momentum. The recent policy measures...are expected to improve economic outlook in India and revive the sentiments in the various sectors in which the company operates," it added.
With strong order book, the company expects to sustain its growth in the period ahead, L&T further said.
The engineering and construction (E&C) business registered 11 per cent growth during the quarter with a net segment revenue of Rs 13,858 crore. It also received most of the orders for the company at Rs 17,818 crore during the quarter.
L&T's electrical and electronics business segment registered a growth rate of 7 per cent with a net segment revenue of Rs 830 crore, while revenue from the machinery and industrial products business was lower at Rs 563 crore due to slowdown in the manufacturing sector, the company said.
Shares of the company were trading at Rs 1,597.95 apiece on the BSE during late afternoon trade, up 2.35 per cent from previous close.
India's L&T Q3 net up 13 pct on strong order wins, beats forecast
Larsen & Toubro (L&T), India's top construction and engineering company, reported a 13 percent increase in net profit for the Oct-Dec quarter helped by strong order wins, beating forecast.
L&T reported a net profit of 11.22 billion rupees for the third quarter compared with 9.92 billion rupees a year earlier.
Sales rose 10 percent to 154.29 billion rupees.
Analysts expected the company to
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