Larsen & Toubro (L&T) has announced its third quarter results of FY10. The company's Q3 adjusted PAT (profit after tax) was up 15.21% to Rs 696 crore versus Rs 604.1 crore during the year-ago quarter.
Net sales for the company were down 6% at Rs 8,071 crore versus Rs 8,594 crore.
The company's Q3 numbers were below street estimates: CNBC-TV18 expected net profit at Rs 732 crore and net sales at Rs 10,145.2 crore
The engineering and construction giant's EBIDTA margin stood at 11.8%.
L&T also cut down on its projected FY10 growth estimate, or guidance, to 10% from 15% earlier. It, however, re-iterated that order inflow for the full-year was still seen over 30%.
At 13:28 pm, shares in L&T were trading at Rs 1,568, down Rs 68.45, or 4.18%. Its volumes also increased 135% to 657,121 shares, compared to the five-day average of 2,79,142 shares. L&T's current market cap stands at Rs 94,122.78 crore.
Source Money Control
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