E-Paper
L&T operating profit up 15%, net falls 58% on base effect
The country’s largest engineering and construction company Larsen & Toubro reported a net profit of Rs 666 crore for the April-June quarter — a fall of 58 per cent over the year-ago period.
The country’s largest engineering and construction company Larsen & Toubro reported a net profit of Rs 666 crore for the April-June quarter — a fall of 58 per cent over the year-ago period.
“The profit after tax for the corresponding quarter of the previous year at Rs 1,598 crore included an exceptional gain of Rs 1,020 crore from sale of long-term investment in UltraTech Cement Limited,” explained the company in its press release.
Excluding this exceptional gain in the said quarter, net profit from normal operations grew by 15 per cent during the April-June period.
Net sales grew by 6.4 per cent to Rs 7,835 crore.
The higher operating margin of 12.9 per cent recorded by the company in the quarter contributed to this growth.
The company won orders worth Rs 15,626 crore, registering a growth of 63 per cent over the corresponding quarter of the previous year.
“These orders were bagged from diverse sectors of the economy, such as power, hydrocarbons, buildings and factories, and minerals and metal industries,” said the company.
