Larsen and Toubro (L&T) has dipped almost 3% at Rs 1,352 after reporting 300 bps decline in EBITDA (earnings before interest, taxes, depreciation and amortization) margins to 9.09% for the quarter ended June 2012, against 12.11% in year ago quarter.
Meanwhile, engineering and construction major has reported 16% year-on-year (yoy) growth in net profit at Rs 864 crore in the quarter ended June 2012, on back of higher income from other sources. Net sales grew 26% at Rs 11,955 crore, while other income jumped 125% at Rs 606 crore on y-o-y basis.
“The company has seen 21% y-o-y growth in its order inflow at Rs 19.594 crore, have order book position at Rs 153,095 crore as at June 30, 2012,” L&T said in a filing.
The stock opened at Rs 1,379 and hit a low of Rs 1,346 on the National Stock Exchange. A combined 2.93 million shares have changed hands on the counter so far on both the exchanges.