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L&T: Course correction yielding results

Better returns profile, reduction in working capital dependence positives

Hamsini Karthik 

Larsen & Toubro is among the few stocks which reacts positively to good quarterly results. The March quarter results, published about a fortnight ago, satisfied the key performance yardsticks on most fronts. While revenues and net profit came ahead of estimates, the engineering giant posted five per cent growth in order flows for FY17 — a welcome change as the past two years have been tough. L&T’s management has raised its benchmark for a few parameters. It expects revenue to grow by 12 per cent in FY18 and the order book to improve by 12-14 per cent.  While the ...

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First Published: Tue, June 13 2017. 00:43 IST
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