Larsen & Toubro share price rallied more than 2 percent intraday on Monday ahead of March quarter earnings.
The engineering and construction major is likely to report profit at Rs 2,994.4 crore for the quarter ended March 2018, degrowth of 9.4 percent compared to Rs 3,305.6 crore in year-ago.
According to Reuters poll estimates, revenue from operations during the quarter may grow 11.61 percent to Rs 41,104.6 crore compared to Rs 36,828 crore reported in same period last year.
EBITDA (earnings before interest, tax, depreciation and amortisation) is expected to increase 17.47 percent to Rs 5,029.3 crore and margin may expand 46 basis points to 12.23 percent compared to corresponding quarter last fiscal, the poll said.
Edelweiss said the growth in revenues is likely largely driven by infra segment. Key monitorables include - working capital, asset monetisation plans and order inflows, it added.
Meanwhile, its construction arm has won orders worth Rs 5,704 crore in domestic market today.
L&T said it has won two major orders from the Narmada Valley Development Authority (NVDA), government of Madhya Pradesh, for execution of Indira Sagar Project- Parwati phases I and II and Kalisindh phase I Micro Lift Irrigation Schemes.
These are repeat orders from NVDA, it added.
The company has also received an EPC order from the Madhya Pradesh Jal Nigam Maryadit for execution of Buxwaha Multi Village Rural Water Supply Scheme.
In the month of May itself, the engineering and construction major, so far, has bagged more than Rs 20,000 crore worth of orders.
At 13:06 hours IST, the stock price was quoting at Rs 1,372.10, up Rs 28.30, or 2.11 percent on the BSE.
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