Larsen & Toubro net profit up 35 per cent to Rs 894 crore; below estimates

NEW DELHI: Larsen & Toubro Ltd reported a 34.6 per cent YoY increase in standalone net profit number for the quarter ended June 30 to Rs 894 crore. The net profit also includes Rs 171 crore as exceptional gain.

Post the adjustment, the net profit for the quarter ended June 30 comes out to Rs 770 crore which was slightly below ET Now estimates of Rs 775 crore. The engineering and construction major reported a net profit of Rs 664 crore in the corresponding quarter of last fiscal. Total Income has increased from Rs. 10311.05 crore for the quarter ended June 30, 2013 to Rs. 10825.65 crore for the quarter ended June 30, 2014.

L&T recorded modes growth in sales by 6 per cent YoY to Rs 10,447 crore for the first quarter of the current fiscal year 2015, as compared to Rs 9823 crore reported in the year-ago period.

L&T recorded consolidated gross revenue of Rs 19,123 crore for the quarter ended June 30, registering a YoY growth of 10per cent. The international revenue during the quarter came at Rs 4781 crore which also constitutes 25 per cent of total revenues.