Larsen and Toubro (L&T) is trading higher by 4% at Rs 906, extending its Friday’s over 4% rally, after construction and engineering giant has reported a good set of numbers for the quarter ended September 2013 (Q2).
The profit after tax for the quarter July-September 2013 grew 7% at Rs 978 crore over the corresponding quarter of the previous year mainly on the back of strong execution performance and higher-than-expected other income. Net sales grew by 10% year-on-year at Rs 14,510 crore during the recently concluded quarter.
Analyst on an average had expected net profit of Rs 880 crore and net sales of Rs 14,222 crore for the quarter.
The healthy growth in revenues was mainly driven by strong execution in the engineering and construction (E&C) and heavy engineering segment and execution pick up in International orders, says analyst at Angel Broking in a note.
Meanwhile, for FY2014, the management continues to reiterate its guidance of 15-17% growth in revenue and 20% growth in order inflow.
The stock opened at Rs 885 and hit a high of Rs 910 on BSE. A combined around 1.4 million shares change hands on the counter so far on BSE and NSE.
The profit after tax for the quarter July-September 2013 grew 7% at Rs 978 crore over the corresponding quarter of the previous year mainly on the back of strong execution performance and higher-than-expected other income. Net sales grew by 10% year-on-year at Rs 14,510 crore during the recently concluded quarter.
Analyst on an average had expected net profit of Rs 880 crore and net sales of Rs 14,222 crore for the quarter.
The healthy growth in revenues was mainly driven by strong execution in the engineering and construction (E&C) and heavy engineering segment and execution pick up in International orders, says analyst at Angel Broking in a note.
Meanwhile, for FY2014, the management continues to reiterate its guidance of 15-17% growth in revenue and 20% growth in order inflow.
The stock opened at Rs 885 and hit a high of Rs 910 on BSE. A combined around 1.4 million shares change hands on the counter so far on BSE and NSE.
