Financial Daily from THE HINDU group of publications
Saturday, Jan 26, 2002
Financial Daily from THE HINDU group of publications Saturday, Jan 26, 2002 |
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Financial Performance Corporate Results - Cement L&T posts 63 pc rise in Q3 net profit Our Bureau
MUMBAI, Jan. 25 LARSEN & Toubro Ltd (L&T) has reported a 63 per cent rise in net profit at Rs 54.51 crore for the third quarter ended December 31, 2001, as against the previous corresponding Rs 33.29 crore. Net sales/income from operations was Rs 1,923.03 crore (Rs 1,941.20 crore for the year ago period). Other income was Rs 34.84 crore (Rs 21.93 crore). "Other income included Rs 9.98 crore being gain on extinguishment of debt,'' an official statement from the company said. Total expenditure was Rs 1,732.19 crore (Rs 1,727.24 crore). Interest amounted to Rs 80.81 crore (Rs 120.82 crore), while depreciation was Rs 82.36 crore (Rs 78.88 crore). Provision for current tax was Rs 2 crore (Rs 2.90 crore) and that for deferred tax, Rs 6 crore. For the nine-month period, L&T's net sales/income from operations amounted to Rs 5,529.82 crore (Rs 5,345.75 crore) with a net profit of Rs 160.04 crore (Rs 64.66 crore). During this time, the company's engineering and construction division secured orders worth Rs 4,740 crore. According to the statement, L&T commissioned its cement grinding plant at Durgapur in January, thereby raising its overall cement capacity to 16 million tonnes.
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