India leading engineering & construction firm, Larsen and Toubro (L&T) ahs reported an increase of 18 per cent in the quarter till December 2011.

The company had recorded a net profit of Rs 840 crore in the same period previous year. Other income for the firm increased 78.9% to Rs 449 crore compared to Rs 251 crore during the same period of 2010.

L&T’s net sales grew 22.66% to Rs 13,999 crore compared to Rs 11,413 crore in the previous year. The figures are better than analyst expectations and the company had to achieve a revenue target of Rs 18,880 crore in the fourth quarter in order to meet the yearly target for the financial year.

The order flow for the company stood at Rs 17,129 crore compared to Rs 13,366 crore in the same period of 2010. The company had set a target of between 20-25% revenue growths in the financial year 2012. It has already reported Rs 34,726 crore in revenues in the first three quarters.

“The quarter witnessed project deferments, aggressive competition, slow reform process and sharp rupee depreciation. The recent increase in IPP numbers and easing of inflationary pressures, however, reflect some positive developments,” the company said.