Construction and engineering major Larsen & Toubro (L&T) registered a 44 per cent growth in net profit at Rs 1,438 crore for the fourth quarter ended March 31, 2010, over the same period last year.
While order inflow grew 90 per cent to Rs 23,843 crore, sales recorded a 28 per cent growth at Rs 13,490 crore over the corresponding quarter last year.
The new orders came from hydrocarbon, fertiliser, defence, buildings and industrial sector.
“Various cost optimisation initiatives launched by the company, aided by lower input costs led to an improvement in the profitability of both project and product businesses,” said A.M. Naik, chairman and managing director, L&T.
The company, whose order book crossed Rs 1,00,000 crore in the quarter under review is upbeat about the future. “We expect a 25 per cent growth in order inflow and 20 per cent in revenue in 2010-11,” added Naik.
L&T is expecting a major chunk of growth to come from power, hydrocarbons and infrastructure sector.