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L&T results disappoints the street;
Sensex down over 400+ pts
L&T was the major loser with 6% loss. Its Q3 numbers were below the markets expectations. In a press conference, L&T said FY10 sales growth guidance was cut to 10% versus 15% aimed earlier, but reiterated that FY10 order inflow growth was seen over 30%.
YM Deosthalee, wholetime Director and CFO of L&T said delays were seen in certain projects due to which degrowth was seen this quarter. "The company's current order book stands at Rs 91,000 crore."
