Larsen & Toubro Ltd's Q2FY17 consolidated net profit rises 84.32% yoy to Rs.1,434 crore : Beats Estimates

India Infoline Research Team | November 22, 2016 18:42 IST

Indian conglomerate in technology, engineering, construction

Larsen & Toubro Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 25,011 8.2
EDITDA 2,298 7.9
EBITDA Margin (%) 9.2 [2]
Net Profit (adjusted) 1,434 84.3
***EBITDA margin change is bps

Larsen & Tuobro limited (L&T) Q2FY17 results beat market estimates. Revenue stood at Rs 25,011 cr vs. analyst expectation of Rs 24,058 cr. EBITDA stood at Rs 2,298 cr vs. market estimates of Rs 1,749 cr. PAT was Rs 1,434 vs. market estimates of Rs 784 cr.

The consolidated revenue of the company grew by 8.2% to Rs 25,011 cr yoy due to 30% yoy pickup in power segment revenue. In addition, the infrastructure business revenue also grew by 6% yoy. L&T majorly derives 68% of its revenue from infrastructure segment and 11% from power business.

EBITDA improved 7.9% yoy to Rs 2,298 cr due to decline in construction raw material cost and improved top line. The EBITDA margin stood at 9.19% vs. 9.21% in the corresponding quarter of previous year.

The consolidated net profit stood at Rs 1,434 cr against Rs 778 cr in Q2FY16 due to improved other income by 50% yoy and decline in interest cost by 25% yoy. In addition, it has an exceptional gain of Rs 402 crore driven by disinvestment in general insurance business.

Technical View:

Larsen & Toubro Ltd ended at Rs. 1323.85, down by 24.4 points or 1.81% from its previous closing of Rs. 1348.25 on the BSE.
The scrip opened at Rs. 1356.25 and touched a high and low of Rs. 1360 and Rs. 1306.6 respectively. A total of 1477865(NSE+BSE) shares were traded on the counter. The stock traded above its 100 DMA.

BSE 1,188.85 [0.15] ([0.01]%)
NSE 1,188.80 [0.45] ([0.04]%)

***Note: This is a NSE Chart



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