L&T earnings gets thumbs up

L&T went up almost 6.5% to Rs.1382 today morning and continues to remain very spirited in an otherwise dull market. Its 52-week high is at Rs.1469.50.

It’s a big thumbs up to L&T’s Q2FY19 earnings as it beat all estimates and retained its outlook ahead.

The company net profit showed a smart 22% (YoY) rise at Rs.2230 crore on a 21% increase in revenue at Rs.32,081 crore. The exceptional gain of Rs 295 crore during the quarter also helped.

Operating profit rose 27% at Rs.3770 crore and margins expanded from 11.2% to 11.4%.

Its order intake was up 46% at Rs.8268 crore of which 20% were exports.

The company retained its forecast of 12-15% increase in revenue and 10-12% increase in order inflows for FY19. This guidance is based on its forecast of government spending on infrastructure expected to increase ahead of the general elections.