Larsen & Toubro rose 2.78% to Rs 1321.30 at 9:37 IST on BSE after consolidated net profit rose 37.02% to Rs 2041.62 crore on 24.22% rise in net sales to Rs 35708.87 crore in Q3 December 2018 over Q3 December 2017.The result was announced after market hours on Friday, 25 January 2019.
On the BSE, 1.10 lakh shares were traded in the counter so far compared with average daily volumes of 1.82 lakh shares in the past two weeks. The stock had hit a high of Rs 1337.45 and a low of Rs 1296.05 so far during the day. The stock hit a 52-week high of Rs 1,469.60 on 1 February 2018. The stock hit a 52-week low of Rs 1,183.40 on 23 October 2018.
The company secured orders worth Rs 42233 crore at the group level during the quarter ended 31 December 2018. The current quarter witnessed delays in order awards due to deferment of select prospects in project businesses mainly in transportation infrastructure, heavy civil infrastructure and power business. International orders at Rs 11454 crore constituted 27% of the total order inflow.
The consolidated order book stood at Rs 284,049 crore as at 31 December 2018, up by 5% over December 2017 position, registering a reasonable growth over a large base. International order book constituted 21% of the total order book vis-a-vis 25% recorded as of 31 December 2017, L&T said.
In its outlook, L&T said that it is focused on tapping emerging opportunities with its proven competence in domains of engineering, design, manufacturing, construction, project management, IT and financial services. The company continues to focus on operational excellence and cost competitiveness backed by digital initiatives. The company is committed to improve the shareholder returns on a sustainable basis.
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