Larsen & Toubro, India's biggest engineering and construction firm, saw its (fiscal 2009-10 first quarter) quarterly net profit climb up by nearly 15 per cent, according to a filing on the Bombay Stock Exchange.
This figure excludes the gain harvested from its stake sale in UltraTech Cement, which stood at Rs 1,019.88 crore.
The company saw its operating profit go up by approximately 14.2 per cent.
Its profit after interest but before gains from exceptional items and tax stood at Rs 851.35 crore, while it had earned Rs 755.08 crore in the corresponding quarter last year.
According to reports Larsen & Toubro's order inflow was down by 22 per cent in the June quarter compared to last year. It has also been reported that the company's order backlog at the end of the June quarter was Rs 716.5 crore.
As per its latest filing to the BSE, the company has said that it has won two contracts worth Rs 651 crore on July 1, 2009 in hydrocarbon sector and Rs 1230 crore in energy sector on June 29,2009.
The result did not enthuse the investors at all as the company's scrip fell into the red. At 2 p.m., it was trading at Rs 1,379, a fall of 3.58 per cent during the day on the BSE.
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