Our Bureau L&T has reported a satisfactory Q3 on the back of strong execution in a challenging business climate. The company maintained that it will reach its annual revenue guidance for FY20.
Addressing media persons, SN Subrahmanyan, CEO and MD, L&T, said it has been a challenging nine months and the Q3 results need to be seen in the backdrop of the economy growing at an estimated sub-5 per cent. i “It is not good news for us as we have to depend on the investment momentum,” added R Shankar Raman, CFO.
L&T, which has a huge play in infrastructure and other segments, has seen a double whammy over the past nine months — a slowing down in both private and public sector spending. On the infrastructure front, L&T met execution challenges due to a combination of factors.
