India`s largest engineering and construction conglomerate, *Larsen & Toubro (L&T)* reported a phenomenal rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 3.16 times over prior year period to Rs 15,204.40 million helped by gain on sale of its ready mix concrete business of Rs 9,163.30 million.
The analysts polled by Bloomberg had estimated earnings of Rs 5,552.75 million for the quarter ended December 2008. Net sales for the quarter rose 34.98% to Rs 86,155.90 million, above analysts` expectation of Rs 79,851.75 million, while total income for the quarter climbed 37.67% to Rs 89,227.70 million, when compared with the prior year period. The company reported earnings of Rs 25.98 a share during the quarter, registering 55.94% growth over previous year period. *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07* *%Change* *Net Sales* 86,155.90 63,826.80 34.98 *Net Profit* 15,204.40 4,817.90 215.58 *Basic EPS* 25.98 16.66 55.94 During the quarter, the operating margin of the company declined by 176.34 basis points to 9.05% compared with the previous year period. Interest cost increased 2.22 times to Rs 975.30 million over previous year period. B.Karthick Research Analyst. www.kences1training.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
