Larsen & Toubro has bagged an order worth Rs 1,302 crore from Petroleum Development Oman, the company announced today.
The job involves engineering, procurement, construction work for the Saih Rawl Depletion Compression project—which is basically to keep up the production of natural gas from the field at the desired level.
Petroleum Development Oman is a leading exploration and production company in the Sultanate of Oman.
The order was won against stiff competition from nine international bidders, L&T said in a notice to the stock exchanges today.
The agency noted that L&T had an order book of Rs 153,100 crore as at the end of last quarter.
Last week, the company announced that it had bagged several orders in the second quarter of the current year (that is, from July), cumulatively worth Rs 2,044 crore. The Oman order, therefore, would add another Rs 1,300-odd-crore to the order book.
For the first quarter of the current year, L&T reported revenues of Rs 11,956 crore and net profit of Rs 900 crore. In this, the company was aided by the more-than-doubling of ‘other income’, to Rs 605 crore. Dividends from subsidiary, notably L&T Infotech (Rs 290 crore) made up most of the ‘other income’.
On the BSE today, the L&T share, of face value of Rs 2, is currently trading at Rs 1,412.