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Larsen & Toubro fiscal Q1 profit climbs 14.0% YOY

Larsen & Toubro Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 5.66 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 6.43 rupees per share.

EPS rose 14.0% year over year from 4.97 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.94 billion rupees, an increase of 14.0% from 6.97 billion rupees in the year-earlier period.

The normalized profit margin increased to 3.3% from 3.2% in the year-earlier period.

Total revenue climbed 10.6% on an annual basis to 241.96 billion rupees from 218.74 billion rupees, and total operating expenses climbed 9.2% year over year to 223.05 billion rupees from 204.34 billion rupees.

Reported net income rose 46.4% on an annual basis to 8.93 billion rupees, or 6.36 rupees per share, from 6.10 billion rupees, or 4.35 rupees per share.

As of July 28, US$1 was equivalent to 64.12 Indian rupees.