L&T Q3 Review - Robust Balance Sheet Makes Up For Minor Miss On Core E&C: Motilal Oswal
A Larsen & Toubro Ltd. employee grinds metal plates in the company’s ship building yard in Hajira, India. (Photographer: Prashanth Vishwanathan/Bloomberg News)  

L&T Q3 Review - Robust Balance Sheet Makes Up For Minor Miss On Core E&C: Motilal Oswal

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Motilal Oswal Report

Larsen and Toubro Ltd.’s consolidated adjusted. Profit after tax grew 5% YoY to Rs 22.6 billion, 42% above our expectation.

The surprise was largely driven by bulky sales of commercial real estate (Rs 3.4 billion profit) and higher other income (up 127% YoY).

Excluding the impact of the same, core engineering and construction operating performance was a tad soft as core Ebitda declined 2% YoY and was 6% below our estimate.

Order inflows remained robust with 76% YoY growth during Q3 FY21, thanks to large orders like the high speed rail.

Click on the attachment to read the full report:

Motilal Oswal L&T Q3FY21 Result Update.pdf


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