Larsen and Toubro post Rs.666 crore Q1 profit

New Delhi, July 27 (IANS) Engineering and constructions giant Larsen and Toubro (L&T) Tuesday registered a profit Rs.666 crore in the first quarter of this fiscal as compared to Rs.578 crore in the like quarter a year ago.

The company’s profit for the like period of 2009-10 stood at Rs.1,598 crore, which included Rs.1,020 crore generated through the sale of the company’s long-term investments in Ultra Tech Cement.

‘PAT (profit after tax) for the corresponding quarter of the previous year at Rs.1,598 crore included an exceptional gain of Rs.1,020 crore from sale of long-term investment in Ultra Tech Cement limited,’ said the company in a statement.

According to the company, excluding the exceptional gains which came out of the sale of the investments in Ultra Tech Cements in the corresponding quarter of 2009-10, the profit after tax from the normal operations grew by 15 percent during the first quarter of 2010-11.

The engineering goods manufacturer also registered a rise of 63 percent in the placement of orders which stood at Rs.15,626 crore from the corresponding period of the previous year.

‘The company won customer orders worth Rs. 15,626 crore, registering a growth of 63 percent,’ the statement added.

The gross customer sales of the diversified company saw a growth of 6.5 percent over the like period of 2009-10 with sales of Rs. 7,913 crore.

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