Pvt firm L&T Q4 net falls 27 pc to Rs 2,070 cr

Engineering and construction giant Larsen & Toubro (L&T) on Saturday reported a 27.13 per cent dip in net profit to Rs 2,069.64 crore for the March quarter on <g data-gr-id="14">slowdown</g> in projects execution and higher expenses.

The company had clocked Rs 2,840.40 crore net profit in the January-March quarter of 2013-14.

The company’s net sales grew 3.69 per cent to Rs 28,022.62 crore during the quarter “as certain sectoral constraints slowed down the pace of execution”, it said in a statement. L&T had reported Rs 27,024.14 crore revenue in the same period of the previous fiscal.Total expenditure rose by 8.70 per cent to Rs 25,001.22 crore during the March quarter as against Rs 22,999.45 crore in the corresponding quarter of the previous fiscal.

“Consolidated Profit After Tax (PAT) for the year ended March 31, 2015 at Rs 4,765 crore was lower vis-?-vis PAT of Rs 4,902 crore for the previous year, mainly due to challenges faced during <g data-gr-id="15">execution</g> of international projects in the hydrocarbon sector,” the company said in a statement.