L&T Q2 profit rises 4.4% to Rs 798 crore

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L&T Q2 profit rises 4.4% to Rs 798 crore
Larsen and Toubro (L&T), the leading engineering firm reported a 4.4% rise in its Q2 net profits. It's net profit rose to Rs 798 crore for the quarter ended September 30.

L&T's profit after tax (PAT) stood at Rs 765 crore for the corresponding quarter previous year.

It's net revenues rose to Rs 11,608 crore during the quarter as against Rs 9,802 crore corresponding quarter previous year.

L&T bagged orders worth Rs 14,552 crore during the quarter, contributing to the order book of Rs 1,39,891 crore as of September 30, 2011. It's order book for the quarter dipped 21% but grew 23% on yearly basis.

The EBITDA margin declined from 10.78% a year ago to 10.44% this quarter.

“The current slowdown in investment momentum witnessed in almost all sectors of the economy, is constraining growth opportunities,” the company said in a statement.

“Intensifying competition, high inflation, elevated interest rates, volatile financial markets and delayed policy intervention are posing considerable challenges for the decision-makers,” it added.

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