t L&T surged 3.54%. The company after market hours on Friday, 18 October 2013, said its recurring profit after tax rose 7% to Rs 978 crore on 10% growth in gross revenue at Rs 14648 crore in Q2 September 2013 over Q2 September 2012. The company attributed top line growth to pick-up in execution of various jobs.
L&T said that the upward trend in order inflow was sustained in the second consecutive quarter of the year. Order inflow rose 27% to Rs 26533 crore in Q2 September 2013 over Q2 September 2012. L&T said that its order book at Rs 1.76 lakh crore as on 30 September 2013, increased 11% on year-on-year basis. International order book constituted 15% of the total order book. L&T said that the macro-economic environment continues to remain weak and uncertain on account of the twin deficits, tight liquidity, persistent inflation and heightened volatility in the financial markets. Investment climate in the economy is yet to show sign of recovery. Deferral of new projects and delayed decision making/execution features the weak performance of the core sector this far, L&T said. The recent government measures such as improved allocation of resources to kick-start the stalled projects are, however, a welcome move to improve the investment sentiment, L&T said. The company said its strategy of business development in select international markets has started yielding results as is evident from the increased share of international business. The company continues to focus on emerging prospects in the Middle East and other select international markets as part of its twin strategy to hedge against domestic slowdown and attain global competitiveness, L&T said in a statement. With its growing order book, increased international presence, and improved competiveness, the company is hopeful of meeting its growth aspirations in the near and medium term, L&T said. -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/globalspeculators. For more options, visit https://groups.google.com/groups/opt_out.
