ECONOMY

L&T Q1 Review – Minor Miss In Core Engineering, Construction Ebitda; Order Inflows Disappoint: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Larsen and Toubro Ltd.’s adjusted profit after tax came in at Rs 11.7 billion, missing our estimates by 19%.

However, the miss in core engineering and construction Ebitda was lower at ~6%.

The larger miss was reported on account of lower other income and higher tax rates, which is recoverable over the remainder of the year.

Also, given that Q1 earnings typically contribute less than 15% to FY earnings, we refrain from reading too much into the current quarter’s headline numbers.

Notably, L&T has maintained its full-year guidance for low to mid-teen growth in order inflows and revenue as well as core E&C margins to be maintained at FY21 levels.

Click on the attachment to read the full report:

Motilal Oswal L&T Q1FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button