L&T profit climbs 31%

CORPORATE SCORECARD

Larsen & Toubro has registered a 31 per cent increase in its profit after tax (after extra-ordinary item) for the quarter ended June 30, 2005 compared with Rs 80.13 crore during the corresponding quarter in the previous year.

Net sales went up by 18 per cent at Rs 3,111.08 crore for the first quarter against Rs 2,639.73 crore during the corresponding quarter in the previous year.

The diluted earnings per share for the company stood at Rs 7.36 in the first quarter compared with Rs 5.8 during the corresponding quarter in the previous year.

During this quarter, L&T transferred its dairy milk and processing equipment business to L&T-Niro and in turn has a made a profit of Rs 38.18 crore. Its revenues from international operations is at 17 per cent of the total sales and services income.

The engineering and construction segment has booked orders worth Rs 3,154 crore during this quarter showing a 45 per cent increase in the previous year's quarter.

While the electrical and electronics segment registered a 30 per cent increase in its gross revenues at Rs 330 crore while its diversified businesses that included the construction equipment business, welding system business and industrial products business grew by 20 per cent.