ManagementL&T Q2 profit rises 26% at Rs 580 cr
Engineering company Larsen & Toubro (L&T) today reported a profit after tax (PAT) of Rs 580.40 crore for the second quarter ended September, whereas the same was at Rs 460.26 crore during the corresponding period a year earlier.
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"The company disposed of its ready mix concrete (RMC) business in October 2008. Accordingly, gross sales during the current quarter ended September 30, 2009 are not comparable with that of the corresponding quarter of the previous year, since the same included sales from RMC business of Rs 275.25 crore," L&T said in a filing to the Bombay Stock Exchange.
The company"s total income stood at Rs 7,918.84 crore for the three month period ended September 30, 2009, while it was at Rs 7,725.07 crore during the same quarter last fiscal.
For the half-year period ended September 30, L&T posted a PAT of Rs 2,178.60 crore, while the same was at Rs 962.70 crore during the corresponding period last financial year.
Shares of L&T were trading at Rs 1,632.65, down 2.41 per cent in the afternoon trade on the BSE.