L&T gains after decent Q4 outcome

Larsen & Toubro rose 2.99% to Rs 1418.85 at 9:28 IST on BSE after consolidated net profit rose 4.95% to Rs 3337.95 crore on 11.09% rise in net sales to Rs 40678.10 crore in Q4 March 2018 over Q4 March 2017.

The result was announced after market hours yesterday, 28 May 2018.

Meanwhile, the S&P BSE Sensex was down 60.79 points, or 0.17% to 35,104.69.

On the BSE, 90,000 shares were traded in the counter so far compared with average daily volumes of 1.25 lakh shares in the past two weeks. The stock had hit a high of Rs 1,421.35 and a low of Rs 1,386.05 so far during the day. The stock hit a record high of Rs 1,469.60 on 1 February 2018. The stock hit a 52-week low of Rs 1,108.12 on 30 June 2017.

Larsen & Toubro (L&T) said it successfully won fresh orders worth Rs 152908 crore at the group level during the year ended 31 March 2018, registering a growth of 7% over the previous year.

The International orders during the year at Rs 35853 crore, constituted 23% of the total order inflow. Order wins in infrastructure and hydrocarbon segments were the major contributors to the order flow during the year.

The order intake for the quarter ended 31 March 2018 at Rs 49557 crore, grew by 5% year-on-year. International order inflow during the quarter at Rs 8678 crore, constituted 18% of the order inflow for the quarter.

Consolidated order book of the group stood at Rs 263107 crore as at 31 March 2018, with international order book constituting 24% of the total order book.

L&T said it expects to continue its planned trajectory of profitable and steady growth which, along with its many value enhancing measures, is aimed at improving shareholder returns on a sustainable basis.

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

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