Slide in operating profit margin weighs on L&T

Engineering firm Larsen & Toubro (L&T) has announced its results for the quarter ended December 2010. It has reported a net profit at Rs 840.6 crore in Q3FY11 as against Rs 768.8 in same period of previous year, a growth of 9.34%. The company earned one time gain of Rs 35 crore.
Revenues jumped 40.52% to Rs 11,413 crore from Rs 8,122.2 crore in Q3FY10.
Numbers were better-than-expectatoons; CNBC-TV18 was expecting profit after tax (PAT) of Rs 790 crore and revenues at Rs 10,280 crore.
However, operating profit margin (OPM) took a beating in third quarter of financial year 2010-11 - OPM stood at 10.85% as against 12.36% in Q3FY10.
L&T has received order worth Rs 13,366 crore in December quarter.