L&T hits a new high

L&T rose today morning to over 3.5% to hit a new 52-week high today at Rs.1468.

The stock hit a new high on the back of   very good performance for Q3FY18.

The company posted a very healthy 53% (YoY) jump in net profit at Rs.1490 crore on a 10% rise in revenue at Rs.28,747 crore.

Operating profit came in at Rs.3143 crore, up 25% while margins showed a surge from 9.6% to 10.9%.

What really helped was the domestic sector, which showed a 70% rise in orders while international order fell 26%.

The most important aspect is the order inflow and L&T’s order inflow for Q3 rose 38% to Rs.48,130 crore. Its order inflow guidance remains status quo; revenue guidance remains at 10 -12% and while EBITDA expansion at 25 bps.