ESSAR GUJARAT-Export-Oriented Steel Project

LARSEN & TOUBRO Focus on Core Sector LARSEN & TOUBRO has turned in encouraging working results for the 18-month period ended March 1989. Sales have amounted to Rs 1,085 crore against Rs 559 crore for the previous period of 12 months, gross profit is Rs 109 crore against Rs 67 crore and net profit is Rs 42 crore against Rs 28 crore. These figures, however, show significant contraction of profit margins. The directors have recommended a dividend of 30 per cent against 20 per cent paid for the preceding 12 months. The distribution is covered 2.45 times by earnings as against 2.65 times.