Construction and engineering major L&T has posted a 13 per cent growth in its first quarter profit excluding an exceptional item of Rs 1,019.88 crore it earned from the sale of 11 per cent stake in UltraTech Cement in June this year.

The profit stood at Rs 851.35  crore in Q1 of FY 2010 as compared to Rs 755.08 crore it earned in the corresponding quarter last year. However, the profit after tax including exceptional item increased by 218 per cent at Rs 1598.20 crore in the first quarter as compared to Rs 502.44 crore it earned in Q1 of previous financial year.

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The company's stock was trading at Rs 1,391.70 crore, nearly 3 per cent lower than Wednesday's close.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15%

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