Gross Sales of Larsen & Toubro Limited for the quarter ended December 31, 2008, has grown by 35% over the corresponding quarter of previous year. The gross sales of L&T stand at Rs. 8700 crore for this quarter.

 

The Company has been able to secure fresh orders totaling to Rs. 14620 crore during the quarter, exceeding the order inflow of Rs. 13019 crore achieved during the same quarter of the previous year. 

All this happened despite an environment of tight liquidity, cautious investment in the Oil & Gas and the core sectors, and a general slowdown in domestic infrastructure spending.

 

The Company's overseas presence is also reflected, as its share of sales from international business stand at 18.5% of the total sales for the quarter. Profit before Interest and Tax from normal operations for the quarter ended in December has risen by 37% as compared to the corresponding quarter of the previous year, which stand at Rs 1009 crore.

 

The company has reported Profit after Tax at Rs. 604 crore from normal operations during the quarter. It has recorded an increase of 25% y-on-y, after absorbing a higher incidence of borrowing costs. On an overall basis, Profit after Tax for the quarter ended December 31, 2008 stand at Rs. 1520 crore. It includes an extraordinary gain of Rs 916 crore (net of tax) from the sale of the Company’s Ready Mix Concrete business, which grew by 216% y-on-y.