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L&T beats expectations with 40% rise in net profit (Live mint.com 29th Jan 2008)India’s largest engineering and construction firm by market value, Larsen and Toubro Ltd (L&T), on Monday reported a better-than-expected third quarter net profit that rose 40%, and raised its revenue forecast for the year as it secured more domestic and international orders. L&T posted a profit after tax of Rs481.79 crore for the October-December period, up from Rs343.90 crore in the year-ago quarter. Its net sales grew 55% to Rs6,382.68 crore from Rs4,115.69 crore last year. “We expect revenue to grow 35-40% for the full year,” L&T chief financial officer Y.M. Deosthalee said from Dubai, where the firm’s board met to finalize quarterly results. “Earlier, we were saying that our revenue would grow 30-35%,” he added. More L&T aims 20% revenue from power biz in 2 yrs (Business Standard 29th Jan 2008) India’s largest engineering and construction company Larsen & Toubro (L&T) aims...

Company Analysis

L&T: right place, right time (Live mint.com 29th Jan 2008)Engineering and construction company Larsen and Toubro Ltd (L&T) has been reporting new order wins with unfailing regularity for several months now. During the quarter ended December, the company saw a 37% rise in its order inflow compared with the year-ago period, which is even better than the 26% rise during the September quarter. The order book at the end of the December quarter was Rs50,000 crore—more than two years’ revenues. The high revenue visibility, its ability to pick and choose its projects and its position at the cutting edge of the infrastructure boom have all helped L&T become a proxy for infrastructure growth in the country. That should help cushion the stock in the current downturn. L&T’s results for the December quarter confirm the optimism. The momentum has been maintained, with gross sales and service revenues up 54% over the corresponding period of the previous fiscal year. Profit growth has...