Larsen & Toubro fourth quarter net profit rose 44% beating market estimates

On May 17, 2010, Larsen and Toubro published its fourth quarter financial results. The company observed a 44% rise in net profit at Rs. 14.38 billion against Rs.9.98 billion at the same time last year.

The company’s profit margin beat market estimates as it received a boost in order execution. Net sales went up 27.75% at Rs. 133.75 billion against 104.69 billion at the same time last year.

The company’s 5,74,789 share volume, valued at $20.4 billion, slipped about 11% so far in 2010. It outpaced the 4.7% fall in the benchmark index at the same period.

On May 14, 2010, its share prices dipped 2.67% or Rs. 41.95 at Rs. 1,529.60. On May 17, 2010, the share prices observed an intraday high of Rs.1569 and intraday low of Rs.1,475.10.

Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company and one of the largest and most respected private firms in India.

The company was founded in Mumbai in 1938 by two Danish engineers- Henning Holck-Larsen and Soren Kristian Toubro. After eight years, it became a private limited company. In 1950, the company went public.

Larsen & Toubro Limited (L&T) has business in Engineering & Construction, Heavy Engineering, Construction, Electrical & Electronics, Machinery & Industrial Products, and IT & Technology Services.