Larsen and Toubro dips post Q2 results

Larsen and Toubro (L&T) has dipped nearly 3% to Rs 1,611 in early morning deals on NSE on reports that the company management has said it might miss the annual revenue and margin forecast owing to delays in projects and problems in execution of hydrocarbon projects.

The company management has said it might miss the annual revenue and margin forecast owing to delays in projects and problems in execution of hydrocarbon projects, a Business Standard report suggests.

Meanwhile, engineering and construction firm L&T has reported a 7% rise in its consolidated net profit to Rs 862 crore for the September quarter of FY15 compared to the year-ago period.

Revenue was up 10% to Rs 21,331 crore from Rs 19,130 crore in the quarter. Earnings before interest, tax, depreciation and amortisation (Ebitda) was down 7% to Rs 2,334 crore. The company bagged Rs 39,797 crore worth of orders in the quarter, registering 17% growth.

The stock opened at Rs 1,615 and touched a low of Rs 1,593 on NSE so far. Around 500,000 shares changed hands on the counter till 0923 hours on NSE and BSE.

Larsen & Toubro Limited