Mumbai, Mar 10 (UNI) Engineering and construction major Larsen and Toubro today announced that it may suffer a loss of Rs 200 crore in commodity hedging.
L&T, in an announcement to the BSE, said there has been an extreme volatility in the markets this fiscal, especially in commodity price and the Company had exposure in commodities and part of it was being hedged. As per the unaudited numbers, the loss could be around Rs.200 crore and the actual loss would emerge only on finalisation of accounts.
The company said it had reduced the exposures to a considerable extent. However, the Company maintains its guidance on order booking, sales and operating margins for the year with an emphasis on improvement in the operating margins.
UNI VK OBB SKB1813