L&T tumbled 6.64% to Rs 910 at 14:35 IST on BSE after net profit declined 12.46% to Rs 756.03 crore on 5% growth in gross revenue to Rs 12704 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced during trading hours today, 22 July 2013.
Meanwhile, the S&P BSE Sensex was up 23.74 points or 0.12% at 20,173.59.
The stock declined on heavy volumes. On BSE, 9.01 lakh shares were traded in the counter as against average daily volume of 2.23 lakh shares in the past one quarter.
The stock hit a high of Rs 988 and a low of Rs 903 so far during the day. The stock had hit a 52-week low of Rs 872 on 27 July 2012. The stock had hit a 52-week high of Rs 1,146.34 on 29 October 2012.
The large-cap company has equity capital of Rs 184.98 crore. Face value per share is Rs 2.
L&T attributed the decline in net profit to unfavorable job mix, lower margin accruals and lower other income.
L&T's revenue from international business jumped 68% to Rs 3378 crore in Q1 June 2013 over Q1 June 2012.
L&T's order inflow jumped 28% to Rs 25159 crore in Q1 June 2013 over Q1 June 2012. International order inflow jumped 2.28 times at Rs 3617 crore in Q1 June 2013 over Q1 June 2012. International orders constituted 14% of the total order inflow in Q1 June 2013. The major orders during the year came from Building & Factories, Transportation Infrastructure, Hydrocarbon and Heavy Civil Infrastructure businesses, L&T said.
With a healthy order book, strong balance sheet, wide ranging capabilities and international presence, the company is optimistic about its prospects as both the Indian and global economies work towards their recovery, L&T said. On the international front, the company continues to focus on good prospects in various countries in the Middle East and select markets in CIS region, Africa and South Asia, L&T said.
L&T is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations
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