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Larsen & Toubro fiscal Q1 profit climbs 18.1% YOY

Larsen & Toubro Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 5.10 Indian rupees per share, a gain of 18.5% from 4.30 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.14 billion rupees, a gain of 18.1% from 6.04 billion rupees in the prior-year period.

The normalized profit margin climbed to 3.8% from 3.5% in the year-earlier period.

Total revenue climbed 10.1% year over year to 189.75 billion rupees from 172.41 billion rupees, and total operating expenses grew 8.4% from the prior-year period to 172.67 billion rupees from 159.25 billion rupees.

Reported net income grew 110.8% on an annual basis to 9.67 billion rupees, or 6.91 rupees per share, from 4.59 billion rupees, or 3.27 rupees per share.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.