Larsen & Toubro Ltd's Q4FY19 consolidated net profit rises 7.9% yoy to Rs3,418cr : Misses Estimates

The company’s consolidated revenue stood at Rs44,934cr, up 10.5% yoy

May 10, 2019 11:05 IST India Infoline Research Team

Larsen & Toubro Ltd Q4FY19

Consolidated Results Q4FY19: (Rs. in cr)

Q4FY19 YoY (%)
Revenue 44,933.96 10.5
EBITDA 5,599.09 3.5
EBITDA Margin (%) 12.5 [85]
Net Profit (adjusted) 3,418.24 7.9
***EBITDA margin change is bps

Larsen and Toubro Ltd’s revenue grew by 10.5% yoy to Rs44,934cr. EBITDA came in at Rs5,599cr, up 3.5% yoy. EBITDA margin contracted by 85bps yoy to 12.46%. Adjusted PAT stood at Rs3,418cr, which grew by 7.9% yoy. Net profit came below expectation of Rs3,650cr.

• Order book grew by 12% yoy to Rs2.9 lakh cr.
• Order inflow grew by 16% yoy to Rs1.8 lakh cr.
• Infrastructure segment’s revenue grew by 12% yoy to Rs26,850cr.
• Power segment’s revenue declined by 38% yoy to Rs930cr.
• Heavy Engineering segment’s revenue grew by 58% yoy to Rs770cr.
• Electrical and Automation segment’s revenue grew by 5% yoy to Rs1,630cr.
• Hydrocarbon segment’s revenue grew by 22% yoy to Rs4,320cr.
• IT and Technology segment’s revenue grew by 23% yoy to Rs3,770cr.
• EBITDA margin of Infrastructure segment declined to 12.3% vs. 13.5% yoy dragging overall margin.
• EBITDA margin of IT and Tech services segment grew to 21.9% vs 21% yoy.

Technical View:

Larsen & Toubro Ltd ended at Rs. 1,355.25, down by 1.45 points or 0.11% from its previous closing of Rs. 1,356.70 on the BSE.
The scrip opened at Rs. 1,364.40 and touched a high and low of Rs. 1,364.40 and Rs. 1,345.80 respectively. A total of 15,88,026 (NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

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