Engineering major Larsen & Toubro (L&T) on Wednesday not only reported a poor set of numbers for the March 2013 quarter with net profit down 7% year-on-year, it sounded rather circumspect about the prospects for the current year. The cautious commentary coupled with the management ‘removing’ R17,000 crore worth of orders from its book, as a matter of prudence, sent the stock reeling 6.5% in intra-day trade.“The firm has removed some orders, worth around R17,000 crore, from the order book as a measure of prudence and caution,” CFO and director (finance) R Shankar Raman explained at a press conference, adding L&T also believed there were some “slow-moving orders” that accounted for roughly 4% or around R5,000-6,000 crore of the order book.