Thursday, January 21, 2010

L&T Q3 sales disappoint; stock down 5%

21 Jan 2010, 1424 hrs IST, ET Bureau

MUMBAI: Shares of engineering major Larsen & Toubro were beaten badly after its quarterly sales declined 6 per cent.

L&T's net sales fell to Rs 8139 crore in the December quarter, lower than the corresponding period a year ago. Its net profit grew 15 per cent to Rs 696 crore over the same period a year ago.

At 2:15 p.m., shares of L&T were down 5.2 per cent at Rs 1,550.10 on the NSE.

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