OREANDA-NEWS. October 25, 2012. Larsen & Toubro recorded Gross Revenue of 13328 crore for the quarter ended September 30, 2012, registering 17 % y-o-y growth. International Sales during the quarter constituted 21 % of the total revenue.

Order inflow at 20967 crore recorded an impressive y-o-y growth of 30%, sustaining the momentum seen during the first quarter of the current year. The major orders came from Building & Factories, Infrastructure and Hydrocarbon sectors.

Order Book stood healthy at 158528 crore as at September 30, 2012. International Order Book constituted 12% of the total Order Book.

Recurring Profit after Tax (PAT) for the quarter stood at 915 crore recording an increase of 15% over the corresponding quarter of the previous year. After considering certain exceptional and extra-ordinary items of income, the overall PAT for the quarter stood at 1137 crore, higher by 42%

Engineering & Construction (E&C) Segment

The E&C Segment achieved Net Segment Revenue of 11633 crore for the quarter ended September 30, 2012 registering a y-o-y growth of 19% on the back of healthy order book and progress on various jobs as per schedule.

Despite the persisting subdued investment cycle witnessed during the quarter, the businesses of the E&C Segment garnered fresh orders of 19136 crore, registering a significant y-o-y growth of 31%. International orders constituted 24% of the total order inflow of the segment.

The Order Book of the Segment stood at 156183 crore as at September 30, 2012.

The Segment recorded improved Operating Margin at 12.2% aided by efficient project management and execution.

Electrical & Electronics (E&E) Segment

E&E Segment recorded Net Segment Revenue of 839 crore for the quarter ended September 30, 2012, recording a moderate y-o-y growth of 7% , as industrial demand remained sluggish. International sales contributed to 10% of the total revenue as compared to 6% in the corresponding quarter of the previous year.

The Segment recorded an improved Operating Margin at 11.1% during the quarter, despite competitive pressures.

Machinery & Industrial Products (MIP) Segment

During the quarter ended September 30, 2012, MIP Segment recorded Net Segment Revenue of 531 crore vis-a-vis 592 crore recorded in the corresponding quarter of the previous year. International sales constituted 17% of the total revenue.

The Operating Margin of the segment was lower at 14.7% due to reduced sales volume and inflation effect on input costs.

“Others” Segment

This segment includes Integrated Engineering Services which recorded Revenue of 308 crore, registering a smart growth of 51% over the corresponding quarter of the previous year. The Operating Margin of the business stood at 23.1% vis-a-vis 20.7% recorded in the corresponding quarter of the previous year.

Outlook

Uncertainty prevailing around the revival of growth in the global economies and the slow pace of reforms in the domestic economy have led to deceleration of growth across the sectors. The quarter has witnessed tight liquidity conditions and volatility in the currency markets. Inflation continues to remain elevated exerting pressure on operating margins.

The rebounding of industrial production and improved credit demand was seen in many sectors towards the end of the quarter. A few steps taken by the government recently underscore its commitment for accelerating the pace of economic development which provides positive signals for the prospects for the Company.

The Company has been sustaining its growth momentum on the back of its strong and diversified business portfolio and increasing international presence. With its execution efficiencies and robust order book, the Company is placed well to realize its near term targets and medium term plans.