L&T Quarterly net profit more than doubles to Rs.376.85 Crores

Larsen & Toubro Ltd (L&T) has announced the unaudited financial results for the quarter ended June 30, 2007.

The Company has posted a profit after tax of Rs.3768.50 million for the quarter ended June 30, 2007 as compared to Rs.1571.30 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs.35419.40 million for the quarter ended June 30, 2006 to Rs.47166.80 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.13.3 during Quarter ended June 30, 2007 compared to Rs.11.37 during Quarter ended June 30, 2006.

The earnings per share ("EPS") data for the quarter ended June 30, 2006 have been adjusted for the issue of bonus shares in the ratio of 1:1 allotted on October 03, 2006.

On July 3,2007, the Board of Directors approved a special interim dividend of Rs 2 per equity share (face value of Rs 2/- each), payable to all registered shareholders as on the record date, July 18, 2007.

Other income for the quarter ended June 30, 2007 includes net gain of Rs 1334.50 million (net loss of Rs 400.10 million for the quarter ended June 30,2006) relating to exchange differences on foreign currency borrowings and deposits. Consequently, the Profit after Tax for the quarter ended June 30, 2007 is higher by Rs 880.90 million. (lower by Rs 265.40 million for the quarter ended June 30, 2006).

The stock was trading at Rs.2399.95, up by Rs.70.40 or 3.02%. The stock hit an intraday high of Rs.2420 and low of Rs.2350. The total traded quantity was 282837 compared to 2 week average of 249992.

Source : Equity Bulls

Keywords