Larsen and Toubro net up 26 percent
October 22nd, 2009 - 4:03 pm ICT by IANS
- Mumbai, Oct 22 (IANS) The net profits of construction and engineering major Larsen and Toubro (L&T) rose 26 percent to Rs.580 crore ($124.92 million) in the quarter ended Sep 30, as compared to Rs.460 crore ($99 million) posted in the corresponding quarter last fiscal.
Total income of the company grew 3.54 percent to Rs.8,136.39 crore in the quarter under review from Rs.7,857.87 crore earned in the like period in 2008-09.
This, L&T said in a regulatory statement, despite the fact that sales figures for the previous corresponding quarter included income from its ready-mix concrete business, which it had sold off last October for Rs.275.25 crore.
Income from its core business — engineering and construction — grew to Rs.6,854.09 crore in the second quarter, from Rs.6,024.14 crore in the corresponding previous period.
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