L&T drops after announcing Q4 result

Larsen & Toubro fell 1.84% to Rs 1,330.30 at 09:18 IST on BSE after the company announced its Q4 result after market hours on Friday, 10 May 2019.

Meanwhile, the S&P BSE Sensex was down 27.07 points, or 0.07% to 37,435.95

On the BSE, 22,000 shares were traded in the counter so far compared with average daily volumes of 1.13 lakh shares in the past two weeks. The stock had hit a high of Rs 1,354.95 and a low of Rs 1,326.50 so far during the day.

Larsen & Toubro (L&T) reported 7.92% rise in consolidated net profit to Rs 3,418.24 crore on 10.86% rise in total income to Rs 45,555.29 crore in Q4 March 2019 over Q4 March 2018.

The order intake for the quarter ended 31 March 2019 at Rs 56,538 crore grew by 14% y-o-y. International order inflow during the quarter at Rs 17,680 crore constituted 31% of the order inflow for the quarter. Consolidated Order Book of the group stood at Rs 293,427 crore as at 31 March 2019, with international Order Book constituting 22% of the total Order Book.

The company continues to focus on profitable execution of its robust order book, positioning well for emerging opportunities and is confident of pursuing its growth plans, with the aim of maximizing shareholder returns (RoE) on a sustainable basis. L&T said.

The Board of Directors has recommended for the approval of shareholders, a dividend of Rs 18 per equity share.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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