L&T's Q2 top-line beats street estimates; profit soars

Engineering and construction behemoth, Larsen & Toubro has posted better than expected quarterly earnings post market hours on Tuesday, November 22, 2016. Revenues and profits for the quarter ending September 30 is above analysts' expectations on both the counts.

Revenue in Q2FY17 has increased by 8.2 per cent year-on-year at Rs 25,011 crore as against Rs 23, 123.48 crore achieved during the same period in the previous fiscal. International revenues have constituted 36 per cent of the total revenues generated for the quarter under consideration.

Profits before exceptional items for the quarter in review are higher by 41 per cent at Rs 1032 crore. As part of implementation of its strategic plan, the company had divested its General Insurance business.

The company continued the momentum of order intake during the second quarter. Company has won order worth Rs 31,119 crore in Q2FY17. At the end of September 30, consolidated order book of the group stands healthy at Rs 2,51,773 crore, out of which 29 per cent are international orders.

L&T maintained order inflow guidance of 15 per cent and revenue guidance of 12-15 per cent for FY17.

Shares of L&T will be in focus on Wednesday, November 23 when markets opens for trading.