L&T on the take

L&T posted a good set of earnings for Q3FY20 driven mainly by international business as most of domestic orders were deferred.

On a 6% (YoY) rise in consolidated revenue at Rs.36,243 crore, the company posted a 15% rise in net profit at Rs.2352 crore.

The International revenue during the quarter at Rs.12,871 crore constituted 36% of the total revenue.

The Company successfully won new orders worth Rs.41,579 crore at the group level and international orders during the quarter was at Rs.17,901 crore, increased to 43% of the total order inflow, on large value order wins in Power Transmission a Distribution and Metallurgical and Material Handling business.

On a cumulative basis, the order inflow for 9MFY20 grew 11% at Rs.128,571 crore.

The heartening part - L&T maintained the order inflow guidance at 10-12% for the year and revenue growth guidance at 12-15%.

The market is happy that the revenue guidance has been maintained and the stock price has gained after two days of consecutive gains. The stock rose 3.5% to an intraday high at Rs.1339.50.