September 08, 2008

L&T profit after tax for Q3 of 2007 up by 40% YoY

Engineering and construction major Larsen & Toubro has posted profit after tax of INR 481.79 crore for October to December 2007 quarter up by 40.09% YoY as compared to INR 343.90 crore in October to December 2006 quarter. Its total income grew up by 53.47% YoY to INR 6,483.55 crore from INR 4,224.49 crore.

L&T’s engineering and construction segment contributed the lion’s share of the income during the quarter at INR 4,962 crore up by 57% YoY. Order inflow of INR 11,462 crore in the E&C segment also grew by 40%. The segment had orders worth INR 47,605 crore by the quarter ended December 31st 2007 including international orders worth INR 6,403 crore.

Mr YM Deosthale whole time director and CFO of L&T said “Primarily, three reasons contributed to our growth in business, an order book in excess of INR 50,000 crore, higher operating margins for engineering and construction, machinery and industrial products and the electrical and electronics segment and growth in sales through the strategy of taking up high value long gestation selective projects.”

For the first time, the L&T Board met at Dubai today to review and approve the quarter’s results. L&T attributed this gesture to its strong presence and growing business interests in the Gulf region.

L&T’s total order inflow during the quarter was INR 13,019 crore up by 37% YoY.