L&T Q1 net profit rises 16 per cent to Rs864 crore
23 Jul 2012
Engineering giant Larsen & Toubro (L&T) has reported a net profit of Rs864 crore for the quarter ended 30 June 2012, a 16 per cent year-on-year increase from the Rs746.15 crore profit reported in the similar quarter of the previous financial year.
L&T reported gross revenue of Rs12,078 crore for the quarter ended 30 June 2012, a 26 per cent growth year-on-year on the back of healthy order book and good progress in execution of various works.
L&T's after-tax profit (PAT) during the quarter was 19 per cent higher at Rs890 crore excluding the one-time exceptional expenses on VRS payments.
During the quarter L&T's order flows increased 21 per cent year-on-year to Rs19,594 crore, major orders coming from infrastructure, building and factories and power transmission and distribution sectors.
International sales constituted 17 per cent of L&T's sales during the quarter, in a volatile market. The company's order book stood at Rs153,095 crore at the end of June 2012, according to its filings with the stock exchanges.
While the company's turnover during the quarter was better compared with the corresponding quarter of the previous fiscal, it was lower compared to the previous quarter sequentially.