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Our Bureau

Mumbai, Oct. 26 Engineering and construction company Larsen & Toubro registered a 73 per cent increase in the second quarter net profit, driving up the stock prices by Rs 420.40 or 12.16 per cent on the day.

The share price closed at Rs 3,876.80 on BSE on Friday from the previous close of Rs 3,456.40.

The net profit increased to Rs 348.02 crore for the quarter ended September 30, from Rs 201.22 crore in the year-ago quarter, buoyed by robust growth in sales.

Total income rose by 43.21 per cent to Rs 5,523.27 crore from Rs 3,856.52 crore.

Mr J.P. Nayak, Director and President, said a strong impetus to the infrastructure sector supported by sizeable capital investment programmes and a stable market share for the company’s products contributed to robust growth in sales and order inflow during the quarter.

International operations contributed 17 per cent of the revenue during the quarter. The order book grew by 26 per cent to Rs 7,547 crore. The order backlog as of September 30 was about Rs 44,000 crore.

More Stories on : Financial Performance | Engineering | Larsen & Toubro Ltd

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