Engineering and construction major Larsen & Toubro has
reported a better than expected growth of 31.6% year-on-year in its adjusted
profit after tax of Rs 1,920 crore for the fourth quarter of FY12.
After including exceptional items of Rs 227 crore in Q4FY11,
company's reported profit after tax rose 13.9% for the quarter ended March
2012. Exceptional items included sale of investment in an associate company and
partial sale of a strategic investment.
Total income came in lower than expectations at Rs 18,461
crore, a growth of 21% as compared to Rs 15,261 crore during the same period.
Revenues from its E&C division jumped 23.4% to Rs 16,709 crore from Rs
13,544 crore YoY.
Analysts on average had expected net profit at Rs 1,691
crore and total income at Rs 18,843 crore.
However, company disappointed the street by reporting lower
order inflow and margins. EBITDA margins declined at 13.65% in the
January-March quarter of 2012 as against 15.22% in the corresponding quarter of
last fiscal.
EBITDA increased 7.7% to Rs 2,520.7 crore from Rs 2,341
crore year-on-year.
L&T received orders worth Rs 70,574 crore in the
financial year 2011-12, which was quite lower than its forecast of Rs
80,000-84,000 crore due to deferred execution and lost orders, says the
company.
L&T has decided to pay a dividend of Rs 16.50 a share.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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