L&T beats the slump with 74 per cent rise in July-September orders

15 October 2008

Mumbai: Larsen & Toubro Limited (L&T) has secured fresh orders totaling Rs12,453 crore during the quarter - a y-o-y growth of 74 per cent - belying an economic slowdown amidst the global financial meltdown.

The company's overseas orders accounted for 21 per cent of its total orders while overseas sales accounted for 19 per cent of the total, L&T said in a release.

L&T reported gross sales of Rs7,776 crore for the quarter ended 30 September 2008, registering an increase of 40 per cent over the corresponding quarter of the previous year.

Profit before interest and tax for the quarter ended 30 September rose 35 per cent to Rs760 crore while profit after tax grew by 32 per cent to Rs460 crore during the quarter.

For the half year ended 30 September, sales revenues at Rs14,769 crore grew 46 per cent and profit after tax at Rs963 crore grew by 33 per cent over the corresponding period of the previous year.

Engineering and construction segment reported healthy financials for the quarter with a slew of mega project orders, with orders worth Rs10,434 crore, a growth of 90 per cent over the corresponding quarter of the previous year