Indian construction and engineering giant, Larsen & Toubro (L&T) recorded a higher than expected growth in net profit at 13.89 per cent.

The company reported a net profit on stand along basis at Rs 1,920.41 crore for the quarter till March 2012 compared to Rs 15,261.17 crore of in the same period of the previous year, it said in a filing with the Bombay Stock Exchange (BSE). The growth in net profit was mainly due to improved order inflows for the company during the quarter.

The net sales of the company during the fourth quarter rose 21 per cent to Rs 18,460.90 crore compared to Rs 15,261.17 crore of in the same period of the previous financial year, the filing showed. The company's total expenses increased by 22.25 per cent to Rs 16,080.50 crore even as the tax payment decreased by more than 19 per cent to Rs 708.10 crore.

As for the whole 2011-12 financial year, the company reported an increase of 5.33 per cent in its consolidated net profit to Rs 4,693.69 crore as compared to Rs 4,456.17 crore in the previous financial year. Consolidated net sales increased 23.58 per cent to Rs 64,313.11 crore, while total expenses increased by 25 per cent to Rs 57,123.46 crore.

"Decelerating growth momentum across the sectors during 2011-12 led to deferment of capital expenditure and fresh investment decisions. Still the company was able to garner sizeable new orders," L&T said.