New Delhi: Engineering giant Larsen & Toubro today reported a net profit of Rs 666 crore for the quarter to June against Rs1,598 crore during the same period a year ago.
“The profit after tax 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,” the company said in a filing to the stock exchanges.
“Excluding this exceptional gain in the said quarter, PAT from normal operations grew by 15% during the current quarter,” the filing added.
The higher operating margin of 12.9% recorded by the company in the current quarter contributed to this growth, it said.
During the quarter, the company won customer orders worth Rs15,626 crore, registering a growth of 63% over the corresponding quarter of last year. The company’s order book stood at Rs1,07,816 crore as on 30 June 2010.
The net sales of the company grew by 6.4% to Rs7,835 crore during the April-June quarter.
The shares of the company were trading at Rs1,888 per share, down by 1.64% over the previous close, on BSE.