Helped by the performance of its international business and an one time exceptional income, infrastructure major Larsen & Toubro (L&T) has reported a 22 per cent growth in its net profit at Rs. 1,241 crore for the third quarter ended December 31, 2013, as compared to Rs. 1,013 crore in the same period in the previous year. The company’s recurring profit after tax for the period has gone up by 12.1 per cent to Rs. 1,137 crore as compared to Rs. 1,013 crore in the year-ago period.
During the period the company’s gross revenue increased by 12 per cent to Rs. 14,534 crore as compared to Rs. 13,016 crore in the same period last year.
Focus“We have done well under the current circumstances. Our plan to go international has helped. We are putting more efforts on execution, cost reduction and operational excellence. We will continue to focus on these aspects in the future. We will still have a difficult period in the current economic scenario,” said K. Venkataramanan, CEO & Managing Director, L&T.
Order inflowOrder inflow at Rs. 21,722 crore during the third quarter recorded a growth of 21 per cent as compared to the same period last year despite the prevailing weak investment climate, said R. Shankar Raman, CFO and Wholetime Director, L&T.
GuidanceMr. Raman said that considering the slowdown and complete standstill in PPP (public-private partnership) projects, the company has revised its guidance on order book growth from 20 per cent growth to 15 per cent for the full year but it will meet its guidance on top line and bottom line.
