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L&T Q1FY09 net up 33% at Rs502 cr

L&T Q1FY09 net up 33% at Rs502 cr
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First Published: Mon, Jul 28 2008. 03 57 PM IST
Updated: Mon, Jul 28 2008. 03 57 PM IST
Mumbai: Backed by a healthy order book, Larsen and Toubro Limited reported a net profit (PAT) of Rs502 crore for Q1FY09, a growth of 33% over the corresponding quarter of the previous year.
The company reported significant foreign exchange gain during the first quarter of the previous year. Excluding the incidence of such exchange gain, the net profit for the quarter grew by a healthy 70% year-on-year (y-o-y) basis.
Gross sales at Rs6,993 crore grew by 53% over the corresponding quarter of the previous year. Order Inflow rose 24% over the corresponding quarter of the previous year.
The engineering and construction segment also reported healthy growth in its order inflows during the quarter at Rs10,516 crore registering an increase of 28% over the corresponding quarter of the previous year. The share of international orders booked during the quarter was 13% of the segment’s total order inflow.
However, electrical and electronics segment reported a modest growth in order inflows and sales, despite the sluggish demand. The segment sales revenue at Rs578 crore for the quarter increased by 7% when compared with the corresponding quarter of the previous year.
The markets took note of the development and the stock at Rs2723 levels moved up 3.7% or Rs98 by close of trade.
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First Published: Mon, Jul 28 2008. 03 57 PM IST