India's biggest engineering and construction company, Larsen and Toubro Ltd (L&T) has recorded a disappointing 6.9 per cent fall in profits to 17.88 billion rupees during the fourth quarter of the financial year 2012-2013.

The company had recorded a profit of 19.20 billion rupees during the fourth quarter of the previous financial year. The sales of the company rose 10 per cent to 202.94 billion rupees during the quarter from January to March 2013. The company also said that its earnings before interest, taxes, depreciation and amortization fell 4.2 per cent to 24.51 billion rupees during the quarter compared the same quarter of the previous year.

Experts say that the Overall Indian economy has faced a slowdown and is expected to grow around 5 per cent in the financial year 2012-2013. General economic slowdown and high borrowing costs resulted in delays in infrastructure projects like construction of roads and power projects. The company said that infrastructure bottlenecks, non-availability of raw materials and delayed reforms have led to economic slowdown.

Meanwhile, Larsen & Toubro (L&T) has said that it has secured orders worth an impressive Rs. 2,542 crore in different sectors during April and May of 2013.