Larsen net up 27% to Rs 132.25 cr

Larsen & Toubro has posted a 27 per cent increase in its net profit at Rs 132.35 crore for the quarter ended December 31 compared with Rs 101.8 crore in the corresponding period previous year.

Net sales for the quarter stood at Rs 3,230.49 crore, up 36 per cent compared with Rs 2374.91 crore in the same period previous year.

Other income almost doubled to Rs 83.56 crore from Rs 43.44 crore. Staff cost increased from Rs 179.36 crore from Rs 209.17 crore. The interest outgo increased to Rs 14.13 crore from Rs 9.37 crore.

The company's engineering and construction (E&C) segment reported an order booking of Rs 3,161 crore for the quarter. The electrical and electronics segment clocked gross revenues of Rs 311 crore, reflecting a 24 per cent increase over last year.

The company said the E&C revenues are expected to report a growth of around 35 per cent for the year, while the electrical and electronics segment is poised to record a revenue growth of around 25 per cent for the year.

Cumulatively for the nine months ended December 31, 2004, gross sales and service income amounted to Rs 8,960 crore, an increase of 44 per cent. Profit after tax at Rs 296.85 crore represents a growth of 20 per over the corresponding quarter of the previous year.

The profit figures exclude the one-time gain of Rs 353.32 crore accrued on sale of shares in UltraTech Cement in the previous quarter.