Larsen and Toubro Profit Misses Estimates Following One Time Charge and Muted Inflows
Larsen and Toubro reported a third-quarter profit miss driven by a one-time labour charge and slower infrastructure orders. Revenue also fell below estimates.
Insights:
Larsen & Toubro Ltd. reported that its consolidated profit after tax fell by 4.3% to 32.15 billion rupees for the quarter ended December 31. This result missed the 44.08 billion rupees expected by analysts, according to data compiled by LSEG. While revenue for the period rose by 10.5% to reach 714.5 billion rupees, it also came in below the projected estimate of 739.13 billion rupees.
