Nifty Tips
Larsen and Toubro (L&T) dropped 2.94%, or Rs 56.45 to end at Rs 1,863.23 on Tuesday. It touched an intraday high of Rs 1,925 and an intraday low of Rs 1,845.
Today the company has announced its first quarter results of FY11, which was below the estimates. The company's Q1 net profit was up 15.22% at Rs 666 crore versus Rs 578 crore (YoY). Its net sales were up 6.41% at Rs 7,835 crore versus Rs 7,362.7 crore. Operating margin improved to 12.2% versus 11.3%.The company has kept order growth guidance unchanged at 25%.
.L&T profit after tax (PAT) is expected to go up 19.2% to Rs 690 crore as against Rs 578 crore, on year-on-year basis (YoY). Sales are seen going up 20.6% to Rs 8885.57 crore from Rs 7362.7 crore (YoY).
On the other hand Mukesh Ambani group's flagship company Reliance Industries (RIL) has announced its results for the quarter ended June 2010. It has reported net profit at Rs 4851 crore as against Rs 3636 crore, a growth of 33.42% on year-on-year basis.
Net sales jumped 81.65% to Rs 58,228 crore from Rs 32,055 crore. Numbers were better-than-expectations which were to be 59,300 crore and net profit at Rs 4820 crore.
Refining revenues increased 106.81% to Rs 50,531 crore from Rs 24,434 crore and petchem revenue rose 18.8% to Rs 13,903 crore from Rs 11,707 crore (YoY).
Posted in: Larsen and Toubro
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