L&T slips after announcing Q2 results

Larsen & Toubro fell 2.35% to Rs 1,614 at 9:34 IST on BSE after company's consolidated profit after tax rose 7% to Rs 862 crore on 10.4% growth in gross revenue to Rs 21331 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result hit the market after trading hours on Friday, 7 November 2014.

Meanwhile, the S&P BSE Sensex was up 69.66 points or 0.25% at 27,938.29.

On BSE, so far 40,368 shares were traded in the counter as against average daily volume of 1.76 lakh shares in the past one quarter.

The stock hit a high of Rs 1,624 and a low of Rs 1,593.65 so far during the day. The stock had hit a record high of Rs 1,774.70 on 9 June 2014. The stock had hit a record low of Rs 912.30 on 13 November 2013.

The stock had outperformed the market over the past one month till 7 November 2014, advancing 16.83% compared with the Sensex's 6.08% rise. The scrip had also outperformed the market in past one quarter, gaining 11.54% as against Sensex's 8.91% rise.

India's largest engineering and construction company by sales has an equity capital of Rs 185.65 crore. Face value per share is Rs 2.

Larsen & Toubro (L&T)'s consolidated order intake rose 17% to Rs 39797 crore in Q2 September 2014 over Q2 September 2013. The International order inflow during the quarter at Rs 6756 crore constituted 17% of the total order inflow. Major orders during the quarter were secured by the infrastructure, power and hydrocarbon segments. L&T's consolidated order book stood at Rs 2.14 lakh crore as on 30 September 2014, higher by 14% on a year-on-year basis. International order book constituted 27% of the total order book.

With regard to future business outlook, L&T said that while continuing to pursue international business on selective basis, the company with its capabilities spanning across several core sectors, is poised to grow its domestic order book and maintain its leadership position as the opportunities emerge.

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