L&T net up 8% at Rs 3,418 cr in Q4; dividend of Rs 18 a share announced
Posted on 11th May 2019 |
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| Engineering and construction major Larsen & Toubro (L&T) reported on Friday its net profit rose 8 per cent to Rs 3,418 crore in the March quarter (Q4) of FY2018-19 year-on-year, according to a filing with the Bombay Stock Exchange (BSE). The Board of Directors has recommended for the approval of shareholders, a dividend of Rs 18 per equity share. The company's revenues increased 10 per cent to Rs 44,934 crore in Q4FY19 year-on-year. Analysts at ICICI Securities expected L&T’s standalone revenue to grow 14 per cent year-on-year (YoY) to Rs 30,702.9 crore. EBITDA (Earnings before interest, tax, depreciation and amortisation) margin was expected to improve 20 basis points (bps) to 13 per cent. Net profit or profit after tax (PAT), as per estimates, was expected to grow 24.5 per cent at Rs 2,866.5 crore. The results were announced post-market hours on Friday. The stock ended 0.1 per cent down on the BSE at Rs 1,355 levels. L&T has remained subdued during the last one year, underperforming the benchmark S&P BSE Sensex. The stock slipped 1 per cent between May 9, 2018 - May 9, 2019, as against over 6 per cent rise in the S&P BSE Sensex. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for L&T net up 8% at Rs 3,418 cr in Q4; dividend of Rs 18 a share announced |
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