Prabhudas Lilladher has come out with its October-December quarter earnings estimates for the capital goods sector. The brokerage house expects Larsen and Toubro (L&T) to report a 18.1 percent rise quarter-on-quarter (up 13 percent Y-o-Y) in net profit at Rs 1154.4 crore.
Sales of the company are expected to increase by 20.2 percent Q-o-Q (up 13 percent Y-o-Y) to Rs 17435.2 crore, according to Prabhudas Lilladher.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 26.9 percent Q-o-Q (up 11.2 percent Y-o-Y) to Rs 1778.4 crore.
EBITDA margin or operating profit margin is likely to be at 10.2 percent in December quarter as against 9.7 percent in September quarter and 10.4 percent in a year ago period.
Prabhudas Lilladher on Larsen and Toubro:
After weak execution in H1FY14, managment expects the execution to pick up in H2FY14 ( management have maintained their guidance of 15 percent sales growth for FY14). We expect the sales growth for quarter to be up 13 percent Y-o-Y as lot of orders recived in H2FY13 will come up for execution. Improved contribution of exports is likley to keep margin under pressure Y-o-Y. The company has announced Rs 140 billion worth of orders in the quarter.
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