INSUBCONTINENT EXCLUSIVE:
it is confident of achieving its order inflow growth guidance of 10-12 per cent for 2018-19.
The company on Friday reported a third-quarter
net profit of Rs 2,042 crore, up 37 per cent from the year-ago quarter
Consolidated gross revenue in the same period was Rs 35,709 crore, up 24 per cent yo-y
The result beat street estimates which had pegged net profit at Rs 1,889 crore and sales at Rs 32,952 crore, according to a poll by
The only sore point is that fresh orders declined in the third-quarter, but in the nine months order inflow has still grown, as in the first
said.
Raman said domestic orders declined 22 per cent in the quarter and are like to be subdued towards the end of the fourth quarter, which
is typically a good quarter for order wins due to the upcoming general election.
In December quarter, LT bagged new orders worth Rs 42,233
crore, down 12 per cent from the yearago period
The company attributed this to delays in order awards due to deferment of select prospects in project business in transport infrastructure,
heavy civil engineering and power business
But for the nine months to end-December, its order inflow grew 16 per cent, giving the company confidence of achieving its
guidance.
Managing director SN Subrahmanyan said the company may even improve on the growth guidance by another 25 basis points
The growth guidance for sales remains at 12-15 per cent.
Revenue growth was driven mainly by its infrastructure, hydrocarbon, realty and
Strong performances by its services and realty businesses boosted overall operating profit, LT said
Power business continued to be a dampener, as limited opportunities and aggressive competition resulted in a depletion in order book
But heavy engineering business had a good run, driven by hydrocarbon orders, as international markets showed traction in the refinery
