L&T navigates through tough Q1; lack of guidance raises uncertainty
L&T‘s consolidated results managed to post a decent profit, contrary to the consensus estimates
The firm didn’t offer guidance on revenue, order inflows and margins, citing the ongoing uncertainty
Larsen and Toubro (L&T) managed to tide over a tough June quarter despite the pandemic-induced headwinds, including shortage of workers and regional lockdowns. Contrary to consensus estimates and expectations of a loss, L&T’s consolidated results managed to show a decent profit. However, its net profit of ₹537 crore was 69% lower year-on-year (y-o-y).
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