L&T tanks 3% post below estimate Q4 results

NEW DELHI: Larsen & Toubro Ltd posted a 6.8 per cent drop in net profit at Rs 1787.94 crore for the fourth quarter ended March 31, 2013 on Wednesday. ET Now had estimated a net profit figure of Rs 1880 crore.

India's largest engineering and construction conglomerate Ltd had posted a net profit of Rs 1920.41 crore in the same period of previous fiscal.

At 01:35 p.m., L&T pared most of its early morning gains and was trading 3.4 per cent lower at Rs 1552. It hit a low of Rs 1550 and a high of Rs 1652.10 in trade today.

Total income of the company rose to Rs 20,668.21 crore for the fourth quarter, compared to Rs 18775.04 crore in the same period of 2011-12 fiscal, L&T said in a statement.

Larsen & Toubro board recommended a dividend of Rs. 18.50 per share.