Larsen and Toubro Q3 net profit up 10.77 percent
By IANSMonday, January 17, 2011
MUMBAI - Engineering and construction major Larsen and Toubro Monday reported a 10.77 percent rise in the net profit at Rs.840.53 crore (about $180 million) for the third quarter ended December 2010 as against Rs.758.82 crore during the same period last fiscal.
The total income of the company rose by 39.16 percent to Rs.11,660.26 crore during the quarter from Rs.8,379.25 crore during the same period last fiscal, the company said in a regulatory filing.
The engineering and construction segment of the company had a customer sales of Rs.9,831 crore for the quarter under review while electrical and electronics segment registered customer sales of Rs.759 crore.
The company expects a pick up in investment momentum in the economy to coincide with the completion of its expansion projects over the next two years. It also expects to sustain sales growth in the medium-term on strong order book.
At the Bombay Stock Exchange, the shares of the company closed 1.65 percent down at Rs.1,681.15.
