L&T reports 23% revenue growth
23 January 2012
Indian contractor Larsen & Toubro (L&T) reported +23% year-on-year growth in gross revenue for the fourth quarter of 2011 at INR 14155 Crore (US$ 2.82 billion).
The company registered orders worth INR 17129 Crore (US$ 3.41 billion), a growth of +28% year-on-year, taking the total order book to INR 145768 Crore (US$ 29 billion), as at December 31, 2011.
New business was secured in the infrastructure, building and factories, power transmission and distribution, and minerals and metals sectors.
Profit after tax (PAT) for the quarter stood at INR 992 Crore (US$ 198 million), +22% on the same period in 2010.
L&T's engineering and construction segment saw revenues grow +26% to reach INR 12424 Crore (US$ 2.48 billion) for the quarter. From October to December the segment secured orders worth INR 15283 Crore (US$ 3.05 billion), with international orders accounting for 10% of all new business.
Increased efficiency saw the engineering and construction segment record an operating margin of 11.5% for Q4, 2011 versus a margin of 11.6% for the previous year.
Looking forward, L&T is focusing on domestic opportunities and also sees emerging prospects in the hydrocarbon and infrastructure sectors, mainly in the Middle East and South East Asia. The company is optimistic about its success in these markets in the near- to mid-term.
