L&T net profit at Rs 666 crore
Engineering major Larsen & Toubro (L&T) has reported a standalone profit after tax (PAT) of Rs 666 crore for the quarter ended June 30. PAT for the corresponding quarter of the previous year was Rs 1,598 crore, which included an exceptional gain of Rs 1,020 crore from sale of its long-term investment in UltraTech Cement.
Excluding this exceptional gain in the said quarter, PAT from normal operations grew 15 per cent for the quarter ended June, against Rs 578 crore net profit from normal operations during the corresponding quarter previous year, said L&T.
Gross sales for the quarter stood at Rs 7,913 crore, recording a year-on-year growth of 6.5 per cent over the previous year’s corresponding quarter sales of Rs 7,431 crore.
L&T won customer orders worth Rs 15,626 crore during the quarter, registering growth of 63 per cent over the corresponding quarter of previous year. The electrical and construction (E&C) segment accounted for 83 per cent of the sales. The company’s order book stood at Rs 1,07,816 crore as on June 30.
L&T’s share prices fell 2.94 per cent on the Bombay stock Exchange (BSE) today to close at Rs 1,863.25, while the Sensex moved up 0.32 per cent. The company maintains its guidance of 20 per cent growth in revenue and 25 per cent increase in order inflow for this financial year, said the executive.
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