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Construction : What's up | March 2016 | Source : Equipment India

Higher orders boost L&T profit in Q3

Engineering and construction giant Larsen and Toubro Ltd (L&T) has reported a 19 per cent increase in net profit for the quarter ended December 31, on the back of higher orders and better project execution. The company reported Rs 1,034 crore as net profit for the third quarter against Rs 866 crore in the year ago quarter. For the quarter, the order book increased by 14 per cent year-on-year to Rs 2,56,500 crore.
The EBITDA (Earnings before interest, taxes, depreciation, and amortisation) for the quarter was Rs 2,890 crore against Rs 2,650 crore.
In spite of the global economic downturn and major reduction in spending by countries in the West Asian region, the company clocked seven per cent increase in net sales at Rs 25,387 crore against Rs 23,588 crore in the comparable period of the previous year.
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