Engineering major Larsen & Toubro (L&T) has reported a year-on-year growth of 9.34% in its net profit to Rs 840.6 crore in the third quarter of FY’11 versus Rs 768.8 in the Q3 of FY’10. This also included one time gain of Rs 35 crore, the company has said while releasing its third quarter result. Its revenues grew at a much better rate at 40% to Rs 11,413 crore from Rs 8,122.2 crore, during the said period.
On the negative, though, the company clocked a lower OPM at 10.85% during Q3 FY’11 vis-à-vis 12.36%, during the corresponding quarter a year ago.
The shares of L&T closed in the red on both the BSE and NSE, down about 1.5% at Rs. 1684.
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