Blue-chip engineering company L&T reported Q2 FY 2011-12 net profit of Rs.798 crore, up 4.3% from Rs.765 crore in the corresponding quarter last year. Revenues for the quarter arrived at Rs.11375 crore, registering a growth of 19% from Rs.9504 crore a year ago.

L&T culminated its order book size to Rs.142185 crore, including Rs.16096 crore worth of order inflows during the quarter ended September 2011. On annual basis, the company’s order size recorded a growth rate of 23%.

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In a statement released by L&T:

“Despite the current slowdown in new investment decisions in many industries and uncertainty in global markets, the company succeeded in garnering orders against stiff competition, mainly from building and factories, hydrocarbon, minerals & metals and power transmission and distribution sectors.”

However, markets were disappointed on L&T’s tepid order inflow guidance (to 5%) and margin outlook for FY12. The engineering giant lost out on sizeable order inflows in the power sector, mainly from NTPC. Engineering& Construction segment accounted for around Rs.97 billion of the company’s revenues, followed by Electrical & Engineering at a distant Rs.7 billion.

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