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Larsen & Toubro fiscal Q2 profit climbs 48.4% YOY

Larsen & Toubro Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 7.37 Indian rupees per share, a gain of 48.4% from 4.97 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.34 billion rupees, a gain of 48.4% from 6.97 billion rupees in the prior-year period.

The normalized profit margin rose to 4.1% from 3.0% in the year-earlier period.

Total revenue increased 6.9% year over year to 250.11 billion rupees from 233.93 billion rupees, and total operating expenses rose 7.8% from the prior-year period to 231.73 billion rupees from 214.95 billion rupees.

Reported net income increased 44.1% on an annual basis to 14.35 billion rupees, or 10.23 rupees per share, from 9.96 billion rupees, or 7.10 rupees per share.

As of Nov. 22, US$1 was equivalent to 68.42 Indian rupees.