L&T drops after poor Q4 outcome

L&T lost 4.77% to Rs 1,530 at 14:11 IST on BSE after net profit fell 6.9% to Rs 1787.94 crore on 10.08% rise in total income to Rs 20668.21 crore in Q4 March 2013 over Q4 March 2012.

The result was announced during market hours today, 22 May 2013.

Meanwhile, the S&P BSE Sensex was down 28.25 points or 0.14% at 20,083.36.

On BSE, 8.85 lakh shares were traded in the counter as against average daily volume of 2.14 lakh shares in the past one quarter.

The stock hit a high of Rs 1,652.10 and a low of Rs 1,527.50 so far during the day. The stock had hit a 52-week high of Rs 1,719.50 on 29 October 2012. The stock had hit a 52-week low of Rs 1,106.40 on 4 June 2012.

The stock had outperformed the market over the past one month till 21 May 2013, rising 9.09% compared with the Sensex's 5.76% rise. The scrip also outperformed the market in past one quarter, advancing 12.73% as against Sensex's 4.07% rise.

The large-cap company has equity capital of Rs 123.16 crore. Face value per share is Rs 2.

L&T reported 10.19% rise in net profit to Rs 4910.65 crore on 15.07% increase in total income to Rs 62724.16 crore in the year ended March 2013 over the year ended March 2012. L&T said its orderbook stood at Rs 153604 crore as at 31 March 2013.

L&T said that to commemorate the occasion of the platinum jubilee of the company, its board of directors in its meeting held today, 22 May 2013, recommended issue of bonus shares in the ratio of 1:2 (i.e. one bonus equity share each for every two held).

The company's board recommended a dividend of Rs 18.50 per share for the year ended 31 March 2013.

L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

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