The Indian multinational conglomerate company Larsen and Toubro Ltd shares have been in a state of inactivity for a year. There has been a rise of 0.5 percent in the past year. However, Larsen and Toubro’s Ebitda (Earnings before interest, tax, depreciation, and amortization) in the March quarter was slightly below street outlook. But, growth in revenue and order flows was robust at 10.5 percent and 14 percent, respectively.
The March quarter Ebitda of Rs 5,594 crore was slightly below forecasts. The company’s core business of infrastructural segment was the main culprit.
According to the management, “Cost pressures encountered in a few projects and cost provisions pending client approval of additional claims in some projects” dragged profitability.
The segment-wise breakup of the revenue shows the company’s infrastructure clocked a robust 15 percent growth from the year earlier.
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