High finance costs see L038;T Q4 net dip 6.9

Shares of Lamp;T,which plunged by over 6 per cent in intra-day trade,finally closed down 5.57 per cent to Rs 1,517.10 on the BSE.

Improvement in the fortunes of the power sector,privatisation and indigenisation of defence manufacturing and resolution of issues relating to mining,gas pricing,land acquisition etc will boost the companys prospects. So,revenue improves as and when projects come to completion and so does profitability. Therefore,the performance needs to be seen for the year instead of the quarter, chairman of the firm,AM Naik,said.

The order book was Rs 1,53,604 crore as on March 31,2013,with international order book constituting 13 per cent of the total. Net profit for the year 2012-13 stood at Rs 4,911 crore,recording an increase of 10.2 per cent over the corresponding previous year.

The company also removed a couple of slow moving orders worth Rs 17,000 crore from its books.