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Larsen & Toubro Ltd (L&T) on Monday beat market expectations with better than expected Q4 numbers that sent its shares rising 5% in a weak market.The leading construction and engineering company saw its standalone net profit grow 44% to Rs 1,438.30 crore for the fourth quarter ending March 31, 2010 against Rs 998.52 crore in the corresponding quarter last year. The company's net sales (excluding RMC) during the quarter grew 28% to Rs 13374.89 crore on the back of pick up in order execution, from Rs 10,468.98 crore in Q4 FY 2009.L&T's order inflow during the quarter grew 90% to Rs 23,843 crore, contributed by orders from the hydrocarbon, fertiliser, defence, buildings and industrial sectors. The management on Monday have given an optimistic guidance and indicated that during the current year FY 2011, the company expects its order inflow to grow by about 25%, along with revenue growth of 20%."The year ahead is more competitive and challenging. There would be pressure on margins, but we would be working on it. Moreover, we are optimistic on growth coming from power, hydrocarbon and infrastructure sectors during the current year (FY 2011)," said AM Naik, CMD of the company. The company will spend about Rs 2,000 - 3,000 crore capex in FY 11. Moreover it will hire about 7,000 people during the current year especially for power and shipbuilding.L&T's shares on Monday rose 4.97% to close at Rs 1,605.55 on the Bombay Stock Exchange.For the full year ended March 31, 2010 L&T reported a growth of 26% in its net profit to Rs 4375.52 crore against Rs 3481.66 crore last year. Net sales during the year grew 35% to Rs 36675.15 crore from Rs 33,646.57 crore in FY 2009. Various cost optimisation initiatives launched by the company, aided by lower input costs, led to an improvement in the profitability of both project and product businesses.Meanwhile, L&T said it is considering to list its wholly owned unit L&T Finance in the current year FY 2011. "We are seriously looking at listing L&T Finance this year, however L&T Infotech may take 2-3 years time before we go for listing," Naik said.
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