L&T stock surges on spectacular results; better guidance

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, May 15, 2012, 14:16 [IST]

Shares of L&T surged almost 5% following annual results and management guidance that boosted sentiments for the stock. Analysts put a “buy” on the stock, hoping for a sharp uptick in orders and strong execution going forward.

The L&T stock was trading at Rs 1210, up 4.53% over Monday's close on the Bombay Stock Exchange.

L&T has posted a net profit after tax of Rs 19204.10 million for the quarter ended March 31, 2012, as compared to Rs. 16862.10 million for the quarter ended March 31, 2011. Total Income has increased from Rs. 156183.50 million for the quarter ended March 31, 2011 to Rs. 187751 million for the quarter ended March 31, 2012.

The audited results for the year ended March 31, 2012, has seen the Company post a net profit after tax of Rs. 44565.00 million for the year ended March 31, 2012 as compared to Rs. 39578.90 million for the year ended March 31, 2011. Total Income has increased from Rs. 450533.30 million for the year ended March 31, 2011 to Rs. 545088.00 million for the year ended March 31, 2012.

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