{"id":427639,"date":"2021-07-27T11:25:32","date_gmt":"2021-07-27T05:55:32","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=427639"},"modified":"2021-07-27T11:25:32","modified_gmt":"2021-07-27T05:55:32","slug":"tender-delays-lts-q1-profit-misses-estimates","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tender-delays-lts-q1-profit-misses-estimates\/","title":{"rendered":"Tender Delays: L&amp;T\u2019s Q1 profit misses estimates"},"content":{"rendered":"<p>The April-June quarter earnings of the engineering major, Larsen and Toubro (L&amp;T) was kind of a mixed bag, mainly due to the slowing down of the tendering activity by the central and state governments due to the second wave of Covid-19. As a result, L&amp;T\u2019s net profit and operating income missed Bloomberg consensus estimates. Revenues, however, came in line with estimates.<\/p>\n<p>The company reported a near four-fold year-on-year rise in its consolidated net profit to Rs 1,174 crore, which was below analyst estimates of Rs 1,503.43 crore. Healthy execution of projects led to a 38% y-o-y increase in the company\u2019s consolidated revenue from operations to Rs 29,335 crore. However, project progress was impacted with regional lockdowns, shortage of industrial oxygen and supply chain disruptions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The April-June quarter earnings of the engineering major, Larsen and Toubro (L&amp;T) was kind of a mixed bag, mainly due to the slowing down of the tendering activity by the central and state governments due to the second wave of Covid-19. As a result, L&amp;T\u2019s net profit and operating income missed Bloomberg consensus estimates. Revenues, however, came in line with estimates. The company reported a near four-fold year-on-year rise in its consolidated net profit to Rs 1,174 crore, which was below analyst estimates of Rs 1,503.43 crore. Healthy execution of projects led to a 38% y-o-y increase in the company\u2019s [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-427639","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/427639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=427639"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/427639\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=427639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=427639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=427639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}