Larsen and Toubro (L&T), the country's largest engineering and construction major, is expected to report consolidated profit at Rs 770 crore on revenue of Rs 22,477 crore for April-June quarter, according to consensus estimates by analysts. Operating profit is likely to be at Rs 2,500 crore and margin at 11 percent for the quarter. Numbers in the base period (Q1FY16) are likely to be changed according to new accounting standards. Hence, provisioning of doubtful debts and
IDPL (Infrastructure Projects Development Company) & MHPS (JV for supercritical boilers) businesses will be key things to watch out for. Analysts expect order inflows of around Rs 30,000 crore for the quarter. L&T so far has announced projects worth Rs 19,100 crore in Q1FY17, which is 24 percent higher than projects announced in Q1FY16. Guidance for FY17 will also be closely watched. After the Q4 earnings, the company guided for 12-15 percent growth in revenue and 15 percent in order inflows for FY17. Segment wise, analysts expect the company’s infrastructure business margin to drop to around 8.5 percent in Q1 as execution weakens. Further losses in its hydrocarbons, heavy engineering and metallurgy & material handling segments can restrict EBITDA margin improvement, they feel.
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