Inflation colours L&T’s outlook

Oct 19, 2010 |

IANS

Mumbai, Oct. 18: Engineering and construction major Larsen and Toubro (L&T) on Monday reported a 32 per cent rise in net profit at `765 crore for the quarter ended September 30, compared to `580 crore in the previous corresponding quarter.

Gross sales increased 18 per cent to `9,342 crore, while the order book grew 11 per cent, the company said in a regulatory filing.

The total order book in the first six months of the current fiscal stood at `115,393 crore, up 29 per cent in the same period of 2009-10.

Sales from the engineering and construction segment, the main revenue winner for the company, grew 18 per cent to `7,861 crore, while that from the machinery and industrial products rose 37 per cent to `681 crore.

Earnings per share went up from `9.90 in the previous corresponding quarter to `11.48 in the three-month period ended September 30.

In its outlook for the remaining part of the fiscal, L&T said it was hopeful of more orders from a host of sectors, but said higher inflationary trends was a challenge.

The infrastructure major, however, said that the revenue growth would be sustained in the near-to-medium term. The L&T scrip was ruling 0.93 per cent lower at `1,971 in afternoon trade.

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