Larsen & Toubro Q1 Results

Analysts at Centrum Broking projects L&T's revenue to grow 15.4 per cent year-on-year (YoY) to Rs 32,636.6 crore as against Rs 28,283.5 crore, registered in the year-ago period.

Engineering and construction conglomerate Larsen & Toubro (L&T) today reported a 43.14 cent jump in consolidated net profit at Rs 1,472 crore for the first quarter ended June 30, 2018. The company had posted a net profit of Rs 1,028.3 crore in the corresponding period a year ago. Its total income in the quarter under review increased by 17.12 per cent to Rs 28,527.48 crore, as against Rs 24,355.52 crore in the year-ago period, L&T said in a BSE filing. L&T said the revenue, which is a part of total income, for the periods up to June 30, 2017, includes excise duty collected from customers. Revenue from July 1, 2017, onwards is exclusive of goods and service tax which subsumed excise duty. Shares of the company closed 0.19 per cent lower at Rs 1,320.05 apiece on BSE.

Mumbai, 28 July Engineering major Larsen & Toubro reported a 46 per cent jump in consolidated net profit for the June quarter to Rs 893 crore from the same period a year before.The Street estimate had been Rs 928 crore. Order inflow, however, fell 11 per cent to Rs 26,352 crore, lowest in three years, said Bloomberg, owing to lumpy orders in the comparative quarter. Consolidated revenues rose 10 per cent to Rs 23,990 crore from a year before, marginally better than the consensus estimate of Rs 23,850 crore. Earnings before interest, taxation, depreciation and amortisation were Rs 2,060 crore, up nine per cent. "The rise in net profit was due to an improved performance of subsidiaries and associates. Happy to report strong numbers in an environment that continues to remain the same," said Shankar Raman, chief financial officer. The company's press statement added that the quarter had seen lower economic growth in the country in the aftermath of demonetisation. Bank credit to ...

Total income rises 10% to Rs 24,375