L&T: Weak Q3, cut in guidance could hurt sentiment

Its net revenues grew by 1.4% to Rs 26,287 cr, while net profit increased 39% to Rs 972 cr y-o-y

After three promising quarters, Larsen & Toubro (L&T)’s December quarter (Q3) was a let-down for investors. Not only were the numbers lower than anticipated, but also L&T trimmed its annual revenue and order inflow forecast. The twin surprise could shake up its stock price in Monday’s trade.

Its net revenues grew only by 1.4 per cent to Rs 26,287 crore, while net profit increased 39 per cent to Rs 972 crore year-on-year (y-o-y). Both the numbers missed the Bloomberg consensus estimates — revenues of Rs 27,616 crore and net profit of Rs 1,084 crore — by a reasonable margin. Despite