L&T stock up

L&T stock up
On Thursday, $9.8 billion multi-industry enterprise Larsen and Toubro announced its financial results for the quarter and year ended March 31, 2011 and posted a quarterly profit growth of 17 per cent over the corresponding quarter of 2010.

On the back of a positive result, the firm"s stocks saw a northbound movement. Currently on the Bombay Stock Exchange (BSE), stocks of the firm are trading at Rs. 1561.00 up by 3.67 per cent or by Rs. 55.25. So far the stock has seen an intraday high of Rs. 1568.00 and a low of Rs. 1475.05. (2:40 P.M IST).

The company"s PAT(excluding exceptional and extra ordinary items) for the fiscal ending March 31, 2011 grew by 15 per cent to Rs. 3,676 crore as against the corresponding period in the prior year. The company beat market estimates and attributed the profit to an impressive order in flow.

The company"s gross sales for the fiscal ending March 31, 2011 increased by 19 per cent to Rs. 3,886crore, against the corresponding period in the prior year. For the quarter, gross sales grew by 13 per cent to Rs. 15,213crore as against the comparable period last year.

In related news , yesterday the conglomerate which is into multiple sectors including technology, construction and manufacturing stated that it had won the project from Gujarat State Petroleum Corporation (GSPC); an order worth Rs. 14.5 billion for offshore platform production.

Read more about: nse, bse, larsen and toubro
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