However, order inflow for the quarter was better than what most analysts had expected, and this triggered a rally in the stock. At 2:43 pm, L&T shares were trading at Rs 1572, up 4% over the previous close, and up around Rs 100 from the day’s low.
Quarterly net profit was Rs 1686 crore, up 23% year-on-year, and ahead of the CNBC-TV18 analyst poll estimate of Rs 1565 crore.
Gross sales for the quarter rose 13% to Rs 15213, and order flow during the quarter increased 27%. The company’s order book as on March 31, 2011 stood at Rs 130,217 crore.
Operating profit margin for the full year was 14.9% compared with 14.6% in the previous year but the company cautioned that margins would be under pressure this year.
“While completion of the several expansion projects underway will strengthen the company’s position of pre-eminence in its various businesses, intense competition and spiraling input costs may exert some pressure on the operating margin going forward,” the company said in a release.
The company’s main division—engineering and construction—got orders of Rs 28526 crore for the March quarter, up 29% year-on-year. For the year as a whole, order inflows rose a modest 14%. The company said major orders during the quarter came from minerals & metals and building & factories sectors.
www.moneycontrol.com.
Thanks & Regards,
Priyanka Kothari,
Client Service Associate.
Quarterly net profit was Rs 1686 crore, up 23% year-on-year, and ahead of the CNBC-TV18 analyst poll estimate of Rs 1565 crore.
Gross sales for the quarter rose 13% to Rs 15213, and order flow during the quarter increased 27%. The company’s order book as on March 31, 2011 stood at Rs 130,217 crore.
Operating profit margin for the full year was 14.9% compared with 14.6% in the previous year but the company cautioned that margins would be under pressure this year.
“While completion of the several expansion projects underway will strengthen the company’s position of pre-eminence in its various businesses, intense competition and spiraling input costs may exert some pressure on the operating margin going forward,” the company said in a release.
The company’s main division—engineering and construction—got orders of Rs 28526 crore for the March quarter, up 29% year-on-year. For the year as a whole, order inflows rose a modest 14%. The company said major orders during the quarter came from minerals & metals and building & factories sectors.
www.moneycontrol.com.
Thanks & Regards,
Priyanka Kothari,
Client Service Associate.
No comments:
Post a Comment