Larsen and Toubro (L and T) disappointed the Street with its results for the January-March quarter of the 2022-23 financial year (Q4FY23) due to weaker core engineering and construction (E and C) segment performance by the engineering giant.’ Although core E and C order inflows for FY23 rose 19 per cent year-on-year (YoY), with orders from railways, metals and water sectors, margins in the infrastructure segment crashed to all-time low. Revenue at Rs 58,300 crore was up 10 per cent YoY but somewhat below expectations.
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