Engineering conglomerate Larsen & Toubro (L&T) beat third-quarter earnings estimates on Monday and said it expects to sustain sales growth in the medium-term on strong order book.
The company said its operating margin in the third quarter was at 10.8% compared with 12.4% a year ago. L&T, which operates in diverse industries including engineering, software and financial services, has gained from India's push in the past few years to revamp roads and airports, as well as industrial capacity expansion. The global financial crisis-led slow down had also hit L&T's growth trajectory last year, with revenues rising only 11% in 2009-10, compared with 28% in the previous fiscal year. But a pickup in industrial activity and infrastructure projects has restored the company's growth momentum. Speaking at a press conference, L&T CFO YM Deosthalee said the companyDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
