L&T registers 32 per cent profit

17 October, 2008

For the second quarter ending September 30, L&T has registered a year-on-year 32 per cent growth in profit after tax at Rs 4.6 billion, due to fresh orders worth Rs 124.53 billion. The gross sales has increased 40 per cent to Rs 77.76 billion.

LARSEN AND Toubro Ltd (L&T), an Indian engineering and construction company, has registered a year-on-year 32 per cent growth in profit after tax at Rs 4.6 billion for the second quarter ended September 30, 2008, due to fresh orders worth Rs 124.53 billion. The gross sales increased 40 per cent to Rs 77.76 billion during the quarter over the corresponding period last year.

The company posted a year-on-year 35 per cent growth in profit before tax at Rs 7.6 billion for the quarter. The profit-after-tax of the company grew by 33 per cent at Rs 9.63 billion while increase in sales revenue was 46 per cent at Rs 147.69 billion for the half year ending September 30, 2008, compared with the results of same period last year.

Engineering and construction segment of the company registered a growth of 41 per cent in revenue at Rs 59.9 billion with an order inflow rising by 90 per cent, 22 per cent contribution coming from international order, to Rs 104.34 billion during the quarter compared to that of same period last year.

Electrical and electronic segment of the company saw a growth in revenue of 13 per cent at Rs 7.6 billion while its machinery and industrial products segment reported a rise in revenue of 16 per cent at Rs 6.85 billion for the second quarter over the corresponding period last year.

With the positive result during the quarter, the company believes that the new business lines, such as power and railways, will provide adequate business opportunities in the medium to long term.