L&T's reports 28 per cent rise in Q4 profit after tax at Rs1,142 crore

Diversified engineering and construction conglomerate Larsen & Toubro Limited (L&T) today reported an over 28 per cent increase in its profit after tax (PAT) for the quarter ended 31 March 2009, at Rs1,142 crore.

Profit after tax excluding the extraordinary and exceptional items for the year, at Rs2,709 crore, has risen by 29 per cent over the previous year. After considering a net gain of Rs772.46 crore towards the extraordinary items, PAT for the year ended 31 March 2009 stood at Rs3,482 crore, up 60 per cent.

Gross sales revenues recorded a 35 per cent year-on-year growth at Rs34,045 crore. International sales at Rs6,460 crore, accounted for 19 per cent of the total revenues, the release said.

Despite the slowdown witnessed in the capital goods and infrastructure sectors of the country during the later part of the year, L&T was able to bag fresh orders totaling to Rs51,621 crore, reflecting a growth of 23 per cent over the previous year.

L&T said its gross sales and service revenue for the quarter rose 23 per cent year-on-year to Rs10,577 crore helped by its superior execution and delivery capabilities.

Driven by improved margins of engineering and construction segment, the company also reported a healthy growth in profitability.

The group also reported a 37 per cent rise total income at Rs40,480 crore over the previous year. Profit after a for the year, before extraordinary and exceptional items, increased to Rs3,007 crore, posting a y-o-y growth of 30 per cent. After considering extraordinary and exceptional items, PAT for the year at Rs3,789 crore grew by 63 per cent as compared to the previous year.