L&T posts good Q1 numbers: PAT rises, margins flat; what should investors do?
Global brokerages have revised their stance on Larsen and Toubro (L&T). L&T on Wednesday, after market hours, posted a 12 per cent rise in consolidated profit after tax (PAT) to Rs 2,786 crore in the June quarter, on the back of higher revenues.
(With inputs from agencies.)
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L&T Q1 results
L&T Q1 results
The company has achieved consolidated revenue of Rs 55,120 crore for the first quarter of the current fiscal, registering a year-on-year growth of 15 per cent with a robust execution witnessed in the projects and manufacturing portfolio on the back of a large order book. International revenues during the quarter at Rs 26,248 crore constituted 48 per cent of the total revenues. Further, the company's margin was flat at 10.2 per cent.
Jefferies
Jefferies
By maintaining a 'buy', the brokerage raised the target to Rs 4,165 from Rs 3,970.
JP Morgan
JP Morgan
The brokerage maintained an 'overweight' rating and gave the target of Rs 3,857.
Bernstein
Bernstein
By maintaining an 'outperform' rating, the brokerage gave the target of Rs 3,800.
Nomura
Nomura
The brokerage maintained a 'buy' rating and gave the target of Rs 4,000.
Citi
Citi
The brokerage maintained 'buy' on L&T and gave the target of Rs 4,396.
CLSA
CLSA
By maintaining an 'outperform' rating, the brokerage gave the target of Rs 4,151.