L&T posts disappointing numbers

Larsen & Toubro Ltd (L&T) has announced the following Unaudited results for the quarter ended September 30, 2009:

The Company has posted a profit after tax of Rs 5804.00 million for the quarter ended September 30, 2009 as compared to Rs 4602.60 million for the quarter ended September 30, 2008. Total Income has increased from Rs 78578.70 million for the quarter ended September 30, 2008 to Rs 81363.90 million for the quarter ended September 30, 2009.

The profits and the sales growth were less than expectations. According to the company, the growth was subdued due to delay in clearance of infrastructure projects. Mr. Deosthalee, the CFO said that the results should be better in the second half of FY10.

The stock closed at 1608.5, down 3.86% with high volumes in a falling market.
Uploaded at 10/22/2009 06:41:00 PM
by Chinmay
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