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Larsen and Toubro (L&T) has dipped 7% to Rs 1,565 on BSE after reporting a 15% year on year (yoy) decline in standalone net profit at Rs 1,060 crore for the third quarter ended December 31, 2014 (Q3), due to poor performance of the heavy engineering and metallurgical and material handling business. The company had profit of Rs 1,241 crore in the same quarter last fiscal.
Net sales grew 4% at Rs 14,995 crore on yoy basis.
Analysts on an average had expected profit of Rs 1,212 crore on revenues of Rs 17,854 crore for the quarter.
L&T said that its consolidated order book of the group stood at Rs 225,788 crore as at December 31, 2014, higher by 17% on yoy basis. International order book constituted 25% of the total order book.
Net sales grew 4% at Rs 14,995 crore on yoy basis.
Analysts on an average had expected profit of Rs 1,212 crore on revenues of Rs 17,854 crore for the quarter.
L&T said that its consolidated order book of the group stood at Rs 225,788 crore as at December 31, 2014, higher by 17% on yoy basis. International order book constituted 25% of the total order book.
