Larsen & Toubro clarified on report published by newspaper titled L&T may write off Rs 15k crore worth slow-moving orders'.
"The company evaluates its order book on a regular basis. The slow moving orders in that process may be removed to enable carry forward of healthy backlog of orders. There is no negotiation with the clients for this process. Removal of such orders has no impact on revenue. The new orders which the company has received has compensated for any such removal of orders. The company as part of its communication to the press in January 2014 during the announcement of results had disclosed this aspect," the company said.
"We wish to also confirm that we are not aware of any information other than what is publicly available which might have affected the share price movement as indicated by you today," it said.
