Stocks

Larsen & Toubro falls as March-quarter profit misses estimates

Reuters Mumbai | Updated on May 13, 2019 Published on May 13, 2019

Shares of industrial conglomerate Larsen & Toubro fell as much as 2.6 per cent to Rs 1,320.3 - their biggest intra-day percentage loss since February 13.

March-quarter consolidated profit had missed estimates, the company reported on Friday.

Disruptions in decision making processes due to elections in India could impact operating parameters in the first half of 2019-20, the company said.

Cost overruns in the transportation business impacted infrastructure margins in FY19, ICICI Securities said.

Given the uncertainty around pick-up in government projects post elections, we currently build in only 8 per cent yoy in new orders - Phillip Capital.

Shares fell 5.7 per cent this year as of last close.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on May 13, 2019
This article is closed for comments.
Please Email the Editor