Larsen & Toubro Limited Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 28, 2017 at 02:18 pm IST
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Larsen & Toubro Limited reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported total income from operations of INR 157,691.9 million compared to INR 157,327.7 million a year ago. Profit from operations before other income finance costs and exceptional items was INR 10,855.0 million compared to INR 6,971.3 million a year ago. Profit from ordinary activities before tax was INR 12,269.0 million compared to INR 9,675.6 million a year ago. Profit from ordinary activities after tax was INR 9,341.8 million compared to INR 8,012.7 million a year ago. Diluted earnings per share were INR 9.99 compared to INR 8.57 a year ago.
For the nine months, the company reported total income from operations of INR 423,313.4 million compared to INR 411,579.7 million a year ago. Profit from operations before other income finance costs and exceptional items was INR 25,852.8 million compared to INR 21,306.7 million a year ago. Profit from ordinary activities before tax was INR 50,180.8 million compared to INR 32,605.6 million a year ago. Profit from ordinary activities after tax was INR 41,996.6 million compared to INR 26,085.0 million a year ago. Diluted earnings per share were INR 44.90 compared to INR 27.90 a year ago.
Larsen & Toubro Limited is a diversified group. Net sales (not including sold divisions) break down by activity as follows:
- engineering and construction services (68.5%): implementation of turnkey projects of transportation, building, factories, engineering instruments, etc.;
- construction, installation and implementation of hydrocarbon exploration and production projects (17.2%);
- development of thermal power plants and manufacturing of energy production equipment (4.4%);
- manufacturing of aerospace and defense equipment and systems (3.2%);
- manufacturing of custom designed equipment and systems for core industries (2.7%): equipment and systems for the fertilizer, refining, petrochemical, chemical, oil and gas, thermal and nuclear energy industries;
- other (4%): manufacturing of industrial machines and products (industrial valves, welding machines, building equipment, etc.), production of concrete, real estate development, etc.
Net sales are distributed geographically as follows: India (80.1%), Saudi Arabia (3.6%), United Arab Emirates (2.2%), Qatar (2.1%), Kuwait (1.6%) and other (10.4%).