LARSEN & TOUBRO = Q3 FY 2011 RESULTS = Q/E DEC 2010 = GOOD ORDER BOOK = FUTURE HIGHLY PROMISING

Larsen & Toubro Limited

NSE Symbol   LT

Larsen & Toubro Ltd – has produced improved (STAND ALONE) results for the 3^rd quarter ending Dec,2010.

NET SALES  is Rs.11322 Cr – up by 22.25% from Q2;  up by 44.5% from Q1; Down by  15.35% from Q4 FY 10; and Up by 40.27% from Q3 of FY 10.

TOTAL EXPENDITURE  is Rs.10303 Cr – up by 21.99% from Q2;  Up by 47.35% from Q1; Down by 11.56% from Q4 FY10; and Up by 42.71% from Q3 FY 10.

Profit from Operations : is Rs.1110 Cr – up by 25.48% from Q2;  Up by 24.29% from Q1;  Down by 42.63% from Q4 FY 10; and UP by 22.99% from Q3 FY 10.

Profit after Tax (PAT) for Q/e December 31, 2010 excluding exceptional and extraordinary items, stood at Rs. 811 crore, recording an increase of 16% over the corresponding quarter of the previous year.

NET PROFIT : is Rs.841 Cr – up by 9.88% from Q2; up by 26.17% by Q1; Down by 41.55% from Q4 FY10; and UP by 10.77% from Q3 FY10. The reduction in Net Profit is mainly due to an exceptional item of over Rs.35 cr and higher tax expense by about Rs.71 cr from the corresponding Q3 FY10.

Basic EPS : is Rs. 13.84 – against Rs.12.66 in Q2; Rs.11.05 in Q1; Rs.23.9  inQ4 FY10; and Rs.12.72  in Q3 FY10.

Order inflow : of Rs.13366 crore during the quarter ended December 31, 2010 takes the Company’s Order Book to Rs. 114882 crore as at December 31, 2010.

The company has given the following Outlook for the future :

The Company expects the pick-up of investment momentum in the economy to coincide with the completion of its expansion projects over the next one to two years. It is well positioned to sustain revenue growth momentum in the medium term given its excellent execution capabilities, presence in diverse sectors of the economy and a healthy Order Book.

In view of the outlook for the future ; an excellent order Book Position, and expected completion of expansion projects, L&T will be improving its sales and profits in coming quarters at a steady Pace for some time till its expansion schemes are complete and at a much bigger pace thereafter.

RESULTS IN FIGURES :

L & T	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Net Sales	1132167	926077	783510	1337489	807137
DIF %1	11322	22.25	44.5	-15.35	40.27
Other Opertng Income	9141	6999	5021	21021	5079
Increase/decrease in SIT & WIP	-15837	-9758	-29476	9583	-1652
Raw Materials	792739	400503	347382	623801	312903
Traded Goods	49133	50843	44429	53707	40457
Employees Cost	67715	82884	56325	61384	54427
Depreciation	12809	12121	11415	11622	10452
Other Expenditure	123769	308036	269166	404959	305394
Total Expenditure	1030328	844629	699241	1165056	721981
DIF %2	10303	21.99	47.35	-11.56	42.71
Profit from Operations	110980	88447	89290	193454	90235
DIF %3	1110	25.48	24.29	-42.63	22.99
Other Income	24718	38219	22676	32984	23359
Interest	17571	19315	14234	13556	13392
Exceptional Items	-3530	-	-	-2752	-
Profit before tax	121657	107351	97732	215634	100202
Tax expense	37604	37937	31115	79141	30575
Extraordinary Items	-	-7084	-	-7317	-6255
Net Profit	84053	76498	66617	143810	75882
DIF %4	841	9.88	26.17	-41.55	10.77
Dividend (%)	-	-	-	625	-
Face Value.Rs	2	2	2	2	2
Paid Up Equity	-	12099	12063	12044	12005
Basic EPS	13.84	12.66	11.05	23.9	12.72
Diluted EPS	13.66	12.45	10.87	23.44	12.48
Public Shareholding (%)	0	96.41	96.9	0	97.11

ANNOUNCEMENTS

TO THE EXCHANGE

17-01-2011    Larsen & Toubro Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 1132167 lacs for quarter ending on 31-DEC-2010 against Rs. 807137 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 84053 lacs for the quarter ending on 31-DEC-2010 against Rs. 75882 lacs for the quarter ending on 31-DEC-2009.

13-01-2011    Larsen & Toubro Limited has informed the Exchange regarding a press release dated January 13, 2011, titled "L&T exports first Nuclear Equipment to USA".

11-01-2011    Larsen & Toubro Limited has informed the Exchange regarding a press release dated January 11, 2011, titled "L&T MHI JV Inaugurates Twin Facilities for Power Equipment Manufacture at Hazira, Surat".

06-01-2011    Larsen & Toubro Limited has informed the Exchange regarding a press release dated January 06, 2011, titled "L&T bags New Orders worth Rs.1181 Cr in Buildings & Factories IC".

03-01-2011    Larsen & Toubro Limited has informed the Exchange regarding a press release dated January 03, 2011, titled "L&T Bags Rs.1103 Crore Orders in Railway Sector".

31-12-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated December 31, 2010, titled "L&T Bags Rs.2503 Crore Electrical Projects from Domestic and International Markets".

30-12-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated December 30, 2010, titled "L&T Bags Rs.1164 Crore Orders from Metallurgical and Water sectors".

03-12-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated December 03, 2010, titled "L&T bags INR 716 Cr Infrastructure order in UAE".

02-12-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated December 02, 2010, titled "L&T wins INR 415 Cr order from Hindalco and Sepco-I for thermal power plant construction".

25-11-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated November 25, 2010, titled " L&T bags New Orders worth Rs.1030 Cr in Buildings & Factories Segment".  

15-11-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated November 15, 2010, titled " L&T led Consortium bags First Overseas Airport EPC Order in Oman".

19-10-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated October 19, 2010, titled " L&T Wins Rs. 1,449 Crore Order from DB Power".

08-10-2010    Larsen & Toubro Limited has informed the Exchange regarding a press release dated October 08, 2010, titled "L&T Bags New Orders worth Rs. 1585 Cr from Buildings & Factories Segment".

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