LT Q1 net seen down 5.5% at Rs 852 cr: Kotak Securities

Kotak Securities 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 51.8 percent degrowth quarter-on-quarter (down 5.5 percent Y-o-Y) in net profit at Rs 852.1 crore.

Revenues are expected to decrease by 34 percent Q-o-Q (up 12 percent Y-o-Y) to Rs 13390 crore, according to Kotak Securities.

Kotak Securities report on Larsen and Toubro

The Larsen and Toubro stock has underperformed the market post the Q4FY13 results. In the current quarter, the company has announced sizeable order wins of Rs 210 billion (including a mega order of Rs 67 billion). The company has given an order intake guidance of 20 percent in FY14 (Rs 1056 billion).

The street is also concerned on the execution front and margin front, wherein there is scope of negative surprises.

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