ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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EPW Research Foundation LARSEN & TOUBRO Cost Squeeze THE largest engineering and construction company in the private sector and the second largest cement manufacturing company in India, Larsen & Toubro (L&T) saw a mixed performance in 1996-97. The company performed well on the operating front by notching a 23.4 percent increase in opcrating profit on a 24.9 per cent increase in net sales and a 25.1 per cent increase in value of production. However, steep increases in interest charges (up 52.8 per cent), depreciation provision (up 25.6 per cent) and tax provision (up 51.1 per cent) eroded the company's margins considerably and it only managed to post a mere 2 per cent increase in its bottomline over the previous year.

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