Larsen & Toubro (L&T) has reported a 15.2% increase in net profit at Rs 666 crore for the quarter ended June 30, 2010 as compared to Rs 578 crore in the previous quarter a year ago.
According to a company release, the PAT 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 its long-term investment in UltraTech Cement. Excluding this exceptional gain in the said quarter, PAT from normal operations grew by 15 per cent during the current quarter.
The higher operating margin of 12.9 per cent recorded by the company in the current quarter contributed to this growth, said the release.
During the quarter, the company won customer orders worth Rs 15,626 crore, registering a growth of 63 per cent over the corresponding quarter of the previous year. The company's order book stood at Rs 1,07,816 crore as on June 30, 2010.
There has been an increase of 6.4% in the net sales to Rs 7,835 crore.