Mumbai, Oct. 28: Larsen & Toubro Ltd today reported a 67.31 per cent decline in net profit at Rs 143.05 crore for the quarter ended September 30 compared with Rs 437.69 crore for the same period last fiscal.

Total income has increased 4.83 per cent to Rs 3,567.97 crore during the period under review from Rs 3,403.53 crore last year, the company informed the Bombay Stock Exchange.

L&T is exploring options in Iran and Nigeria. “We are already in the Gulf and West Asia and have selected East Africa and Botswana. The company is exploring new locations, including Iran and Nigeria,” chairman and managing director A.M. Naik told reporters while taking stock of the quarterly results.

Riding on a robust growth from the Gulf region, the company is expecting a higher exports revenue this year.

“Exports constitute 20 per cent of our total revenues. We expect international operation revenues to grow to 25 per cent this fiscal aided by the growth in the Gulf region,” Naik said.

Bank of Baroda

Bank of Baroda has posted a 21.74 per cent rise in net profit at Rs 259.07 crore for the quarter ended September 30 against Rs 213.31 crore in the same period last year.

Total income was up 5.03 per cent at Rs 2,003.59 crore against Rs 1,907.61 crore in the year-ago period, the bank told the BSE.

IDFC net up

The Infrastructure Development Finance Co (IDFC) has posted a 39.51 per cent rise in net profit at Rs 104.40 crore for the July-September quarter against Rs 74.83 crore a year ago.

Total income increased to Rs 257.74 crore compared with Rs 160.59 crore in the same quarter last year.