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L&T posts 14% drop in pre-tax profit, says revival a few quarters away

Firm won orders worth Rs 1.86 trillion at the group level in FY20, up 9% over previous year even in the face of subdued business environment and economic challenges

A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai

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For the quarter ended March 31, the overall Profit After Tax (PAT), including the PAT from discontinued operations at Rs 3,197 crore, dipped by six per cent over the figure for the similar period last year

Amritha Pillay Mumbai

3 min read Last Updated : Jun 06 2020 | 12:40 AM IST

Engineering conglomerate Larsen & Toubro (L&T) on Friday reported a 14 per cent year-on-year (YoY) drop in consolidated profit before tax (PBT) at Rs 4,249.7 crore for the quarter ended March 31 (Q4FY20). This was also lower than the consensus estimate of Rs 4,567.2 crore, according to Bloomberg poll of analysts.

The company did not provide order inflow and revenue guidance for the current financial year because of Covid-19.

The company does not expect revival of capital expenditure in the private sector this year. SN Subrahmanyan, chief executive officer and managing director for L&T, said sales missed so far because

Topics : Coronavirus Larsen & Tourbo L&T pre-tax profit