L&T keeps momentum going
Larsen & Toubro (L&T) presented its Q3FY16 numbers on 29th Jan and the momentum of the uptick in order inflow is keeping the stock firmly in the green even today. The stock is up almost 4.5% at Rs.1150 with an intra day low at Rs.1159.
The company posted a good set of numbers for third quarter. Its net profit rose 19% (YoY) at Rs.1035 crore, getting this jump up on the back of a 91% jump in other income and 19% drop in interest outgo. Its revenue rose by a muted 8% at Rs.25,829 crore. The market is thrilled because the CFO, at an ensuing Press Conference said that the company was well on the road to meet its full year revenue guidance of 10-15%. EBITDA was down 8% at Rs.2649 crore and margins declined 180 bps to 10.3%.
The order inflow has been the major cause for cheer. Till date in current fiscal, order inflow at Rs.93,548 crore though lower by 39% on YoY, the Q3 order inflow is what called for a cheer – Q3 order inflow was at Rs.38,528 crore, up 11%. This included international order inflow of Rs.11,115 crore. Its consolidated order book for the entire group was at Rs.2.56 lakh crore, up 14% with 27% coming from abroad.