L&T’s total income jumped to Rs 7,631.05 crore from the comparable quarter in the previous fiscal at Rs 7,103.26 crore.
The jump in net profit was largely driven by the sale of 11 per cent stake in UltraTech Cement for Rs 1,019.88 crore early this year.
Independent of this one-off gain, L&T’s first quarter net profit of the current fiscal showed only a growth of 13 per cent to Rs 851.35 crore versus Rs 755.08 crore in the corresponding quarter of fiscal 2008-09.
L&T Executive Vice President (Finance) Shankar Raman said the spending on infrastructure by the government including PSUs would augur well for the company.
Published 16 July 2009, 15:58 IST