Business Daily from THE HINDU group of publications
Saturday, Oct 27, 2007
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Business Daily from THE HINDU group of publications Saturday, Oct 27, 2007 ePaper | Mobile/PDA Version |
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Engineering Corporate - Performance
Mr Y.M. Deosthalee (left), Whole-time Director & Chief Financial Officer, Larsen & Toubro, and Mr J.P. Nayak, Director, at a press conference in Mumbai on Friday. — Our Bureau Mumbai, Oct 26 The rupee appreciation against the dollar has had little impact on the profit margin of engineering and construction major Larsen and Toubro. “It balanced out as the company had borrowings and billing in foreign currency, said Director and Chief Financial Officer, Mr Y.M. Deosthalee. Mr Deosthalee also said backlog of orders gave the company the flexibility to pick and choose jobs. Employee costResponding to increase in employee cost at Rs.443.22 crore this quarter, as against Rs 391.03 crore for corresponding period a year ago, he said the staff intake this quarter was about 5,000. The company’s engineering and construction segment revenue for the quarter at Rs 4,263 crore, was 55 per cent higher. The international revenue share in it was 17 per cent. Backed by efficient contract management and better execution capabilities the segment registered an improvement in operating margin of 3.1 percentage points during the quarter. The E&C segment ended the quarter with the order book at Rs 42,028 crore. The Electrical & Electronics segment revenue at Rs 672 crore for the quarter too was 44 per cent higher. Machinery & industrial products segment achieved revenues of Rs 592 crore during the quarter, an increase of 36 per cent. More Stories on : Engineering | Performance | Larsen & Toubro Ltd | Forex
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