L&T posts 14% drop in pre-tax profit, says revival a few quarters away

Firm won orders worth Rs 1.86 trillion at the group level in FY20, up 9% over previous year even in the face of subdued business environment and economic challenges

Engineering conglomerate Larsen & Toubro (L&T) on Friday reported a 14 per cent year-on-year (YoY) drop in consolidated profit before tax (PBT) at Rs 4,249.7 crore for the quarter ended March 31 (Q4FY20). This was also lower than the consensus estimate of Rs 4,567.2 crore, according to Bloomberg poll of analysts.
 

The company did not provide order inflow and revenue guidance for the current financial year because of Covid-19.
 

The company does not expect revival of capital expenditure in the private sector this year. SN Subrahmanyan, chief executive officer and managing director for L&T, said sales missed so far because