LT Q1 net likely to rise 4% at Rs 901 cr: KR Choksey

KR Choksey has come out with its first quarter (April-June) earnings estimates for the capital goods sector. The brokerage house expects Larsen and Toubro (L&T) to report a 49 percent degrowth quarter-on-quarter (up 4 percent Y-o-Y) in net profit at Rs 901 crore.

Revenues are expected to decrease by 32 percent Q-o-Q (up 15 percent Y-o-Y) to Rs 13749 crore, according to KR Choksey.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 45 percent Q-o-Q (up 23 percent Y-o-Y) to Rs 1342 crore.

KR Choksey report on Larsen and Toubro

Engineering and construction segment is expected to drive a top line growth of 15 percent on Y-o-Y basis. Healthy order inflows coupled with robust backlog should aid top line growth.

Higher interest cost on account of stretch working capital and lower other income will impact net profits growth on Y-o-Y basis.

OPM percent growth is on a low base. The company had incurred a forex loss of Rs 267 crore in Q1FY13.

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