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L and T Q3 PAT increases by 13pc

Posted on Jan 24, 02:53PM | IBNS

Construction major Larsen and Toubro (L and T) recorded Gross Revenue of ` 15581 crore for the quarter ended December 31, 2012, taking total Revenue for nine months period April-December 2012 to ` 40987 crore, higher by 17pc .

The upward trend in the Order Inflow was sustained in the third consecutive quarter of the year.

Order Inflow at ` 19545 crore during the quarter October-December 2012 recorded y-o-y growth of 14pc , translating into a cumulative growth of 22pc in the Order Inflow for the nine months period April-December 2012.

International order inflow contributed 22pc of the total order inflow during the quarter. The major orders came from Building and Factories, Infrastructure and Power Transmission and Distribution sectors.

Order Book stood robust at ` 162334 crore as at December 31, 2012. International Order Book constituted 13pc of the total Order Book.

Profit after Tax (PAT) for the quarter October-December 2012 stood at ` 1122 crore, recording an increase of 13pc over the corresponding quarter of the previous year.

For the nine months period ended December 31, 2012, the recurring PAT at ` 2926 crore registered a y-o-y growth of 15pc .

Engineering and Construction (E and C) Segment

The E and C Segment achieved Net Segment Revenue of ` 13858 crore for the quarter ended December 31, 2012 registering a y-o-y growth of 11pc .

While growth in the segment revenue was moderate during the quarter, the cumulative revenue growth is higher at 19pc for the nine months period April-December 2012.

International sales constituted 23pc of the total revenue as compared to 9pc in the corresponding quarter of the previous year.

The businesses of the E and C Segment garnered fresh orders of ` 17818 crore, during the quarter ended December 2012 registering a y-o-y growth of 16pc despite weak investment climate and intense competition. International orders constituted 22pc of the total order inflow of the segment as compared to 10pc in the corresponding quarter of the previous year.

The Order Book of the Segment stood at ` 159985 crore as at December 31, 2012.

The Segment recorded cumulative Operating Margin for the nine months period April-December 2012 at 11.1pc . Being essentially project business, the margins for the Segment do not accrue evenly during the quarters.

Electrical and Electronics (E and E) Segment

E and E Segment recorded Net Segment Revenue of ` 830 crore for the quarter ended December 31, 2012, recording a moderate y-o-y growth of 7pc , as demand in the domestic market decelerated. International sales, however, increased by 26pc , contributing to 11pc of the total segment revenue for the quarter.

The Segment recorded an improved Operating Margin at 14.3pc during the quarter, aided by better price realization.

Machinery and Industrial Products (MIP) Segment

During the quarter ended December 31, 2012, MIP Segment recorded Net Segment Revenue of ` 563 crore during the quarter ended December 31, 2012.

The revenue was lower as compared to the corresponding quarter of the previous year due to slow-down in manufacturing, especially in capital goods sector.

International sales constituted 23pc of the total revenue as compared to 19pc in the corresponding quarter of the previous year.

The Segment recorded Operating Margin at 18pc during the quarter ended December 31, 2012.

"Others" Segment

This Segment, which includes Integrated Engineering Services and Property Development, recorded Revenue of ` 330 crore, registering a smart growth of 30pc over the corresponding quarter of the previous year.

The Segment recorded Operating Margin of 23.2pc for the quarter ended December 31, 2012.