L&T Q1 PAT rises; sees moderate domestic growth prospects

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L&T Q1 PAT rises;  sees moderate domestic growth prospects
Larsen & Toubro has reported profit after tax (PAT) of Rs 8636.50 million for the quarter ended June 30, 2012 as compared to Rs. 7461.50 million for the quarter ended June 30, 2011.

Total Income has increased from Rs. 97518.00 million for the quarter ended June 30, 2011 to Rs. 125611.90 million for the quarter ended June 30, 2012.

Margins of the company, that is earnings before interest depreciation and tax, however, came in at just 9%, as against healthy margins of 11.9% in the corresponding period of last year.

L&T does not seem to see encouraging business prospects going forward. "Delayed policy measures, slow down in industrial production, elevated interest rates, and liquidity concerns have moderated the growth prospects in the domestic markets," the company has stated in its press release.

The orders booked during the first quarter was to the tune of Rs 19,594 crores, which was up 21% year on year. The stock was down 1.82% at Rs 1365.

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