L&T; quarterly net profit rises 12 percent

August 8th, 2011 - 6:21 pm ICT by IANS  

Mumbai, Aug 8 (IANS) Engineering and construction major Larsen and Toubro Monday reported 12 percent increase in net profit at Rs.746.15 crore for the quarter ended June 30, against Rs.666.17 crore during the like period of the previous financial year.

The net sales stood at Rs.9,482.61 crore, up 21 percent during the quarter under review as against Rs.7,831.19 crore during the same quarter of 2010-11, the company said in a regulatory filing.

The company also garnered fresh orders worth Rs.16,190 crore during the quarter taking its order book to Rs.1,36,172 crore as on June 20, 2011, it added.

The major orders came from buildings and factories, infrastructure, power generation, transmission and distribution, minerals and metals and hydrocarbon sectors.

The engineering and construction segment achieved gross revenue of Rs.8,018 crore for the quarter under review while electrical and electronics segment’s gross revenue stood at Rs.695 crore.

The machinery and industrial products segment recorded gross revenue of Rs.666 crore during the period under review.

The company Friday also said that it has bagged orders worth $889 million from the UAE.

One order worth $189 million is from Abu Dhabi Gas Industries for engineering procurement and construction installation (EPCI) and commissioning of the Habshan-Ruwais-Shuweihat gas pipeline project.

The other order worth $450 million is from ADMA-OPCO, a major subsidiary of ADNOC and a major producer of oil and gas for the UAE for EPCI of four wellhead towers and a manifold tower platform, among others.

The company has also bagged $250 million contract from PTTEP International, a subsidiary of PTT Public Company, Thailand, for its Zawtika development project.

“The project, to be delivered in 24 months, consists of three wellhead topsides and three jackets weighing 7,000-8,000 tonnes, to be installed in a water depth of 130-150 metres,” the statement added.

At the Bombay Stock Exchange the shares of the company closed 0.62 percent lower at Rs.1,629.85.

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