L&T rallies as better Q3, order inflows fuel confidence
24th January 2013 03:18 PM
Larsen & Toubro (L&T), an engineering and construction conglomerate, gained 2%on Thursday after posting a rise of 13.12% in net profit to Rs 11.22 billion for the quarter ended Dec. 31, 2012 as compared to Rs 9.92 billion in the same period last year. The market was expecting profit to come at Rs 10.8 billion.
During the quarter, the company saw a rise of 10.77% in total revenue to Rs 159.6 billion from Rs 144.07 billion in the same quarter last year.
Order inflow was at Rs 195.45 billion representing y-o-y growth of 14%, translating into a cumulative growth of 22% in the order inflow for the nine months period April-December 2012.
Order book stood at Rs 1,623.34 billion as at Dec. 31, 2012 with international order book constituted 13% of the total order book.
'With strong order book, the company expects to sustain its growth in the period ahead,' it said while commenting on the outlook.
Shares of the company are trading at Rs 1,593.10, up Rs 31.9, or 2.04% at the Bombay Stock Exchange (BSE) on Thursday at 2:07 p.m.The scrip has touched an intra-day high of Rs 1,598 and low of Rs 1,500. The total volume of shares traded at the BSE is 636,174.In the earlier session, the shares climbed 0.57%, or Rs 8.90, at Rs 1,561.20. Currently, the stock is trading down 7.35% from its 52-week high of Rs 1,719.50 and above 43.99% over the 52-week low of Rs 1,106.40.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,528.10 33.10 2.17 1 Month 1,585.25 (24.05) (1.52) 3 Months 1,705.85 (144.65) (8.48) 6 Months 1,319.95 241.25 18.28 1 Year 1,331.50 229.70 17.25 Note: Based on previous day closing price.
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