Infrastructure conglomerate Larsen and Toubro (L&T) on Monday reported a 12.46 per cent decline in standalone net profit to Rs 756.03 crore for the quarter ended 30 June on subdued revenue growth and a drop in other income.
The company had posted a net profit of Rs 863.65 crore during the corresponding quarter of the previous fiscal.Net sales grew 5 per cent to Rs 12,555.06 crore during the quarter from Rs 11,956.35 crore in Q1 of 2012-13, it said in a filing to the BSE.
The company's revenue was impacted by a 44 per cent fall in the power business segment at Rs 1,274.94 crore and an almost 18 per cent fall in the metallurgical and material handling business at 1,086.92 crore.In a separate statement, the company said both businesses had a lower order book due to a slowdown in the sectors.
Other income, primarily interest earned on deposits, fell by over 22 per cent to Rs 472.60 crore compared with Rs 608.12 crore in Q1FY13.
L&T's other businesses did well. Revenue from the infrastructure business reported a growth of almost 22 per cent at Rs 5,460.81 crore, while in the hydrocarbon business, it was up 24 per cent at Rs 2,776.33 crore.
During the quarter, its order book, at Rs 1,65,393 crore went up by 8 per cent year-on-year basis, the company said.Giving its outlook, the company said that 'persisting macro concerns, currency volatility and attendant uncertainty in the financial markets is impacting the growth and investment sentiment of the Indian economy’.
The company had posted a net profit of Rs 863.65 crore during the corresponding quarter of the previous fiscal.Net sales grew 5 per cent to Rs 12,555.06 crore during the quarter from Rs 11,956.35 crore in Q1 of 2012-13, it said in a filing to the BSE.
The company's revenue was impacted by a 44 per cent fall in the power business segment at Rs 1,274.94 crore and an almost 18 per cent fall in the metallurgical and material handling business at 1,086.92 crore.In a separate statement, the company said both businesses had a lower order book due to a slowdown in the sectors.
Other income, primarily interest earned on deposits, fell by over 22 per cent to Rs 472.60 crore compared with Rs 608.12 crore in Q1FY13.
L&T's other businesses did well. Revenue from the infrastructure business reported a growth of almost 22 per cent at Rs 5,460.81 crore, while in the hydrocarbon business, it was up 24 per cent at Rs 2,776.33 crore.
During the quarter, its order book, at Rs 1,65,393 crore went up by 8 per cent year-on-year basis, the company said.Giving its outlook, the company said that 'persisting macro concerns, currency volatility and attendant uncertainty in the financial markets is impacting the growth and investment sentiment of the Indian economy’.