Results in-line, CLSA says on L&T Q3; shares gain
A CLSA report stated that L&T's profit after tax (PAT) was in-line but was much better in quality. "Also, the company's margin was so good that even after provisions of Rs 370 crore it delivered PAT growth of 39% YoY. Inflow (-8%) and execution (+1.4%) were disappointing," CLSA said.
L&T registered net profit of Rs 1238.62 crore, a rise of 14.42% compared to Rs 1082.47 crore in the corresponding period of the previous year. Photo: Official Website