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Saturday, December 10 2022

L&T net profit jumps up 84% in September quarter

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Mumbai: Engineering major Larsen & Toubro (L&T) on Tuesday reported a 84 percent growth in its consolidated net profit to Rs 1,435 crore in the quarter ended September 30 as compared to Rs 778 crore in the same period last year.
The company said its consolidated order inflow at Rs 31,119 crore during the quarter registered an increase of 11 percent over last year. International orders at Rs 7,386 crore constituted 24 percent of the order inflow. On a cumulative basis, the order inflow for the half-year ended September 30, 2016 stood at Rs 60,821 crore.

Consolidated gross revenue in the quarter under review was at Rs 25,011 crore, registering an increase of 8.2 percent from Rs 23,123 crore in the year-ago period.

Infrastructure segment clocked a revenue of Rs 11,332 crore for the quarter, posting a growth of 6 percent over last year. The segment won fresh orders of Rs 18,872 crore during the three months ended September 30, despite muted investment climate.

Power segment recorded a revenue of Rs 1,745 crore during the quarter, registering a growth of 30 percent over the year-ago period on progress of projects under execution.

The heavy engineering business posted revenue of Rs 755 crore increasing by 24 percent over the corresponding quarter of the previous year.

Hydrocarbon segment achieved a 33 percent growth in its revenue to Rs 2,494 crore for the quarter. International revenue constituted 52 percent of the total customer revenue of the segment.

The company on Tuesday said that its construction arm won orders worth Rs 1,926 crore across its various business segments.

L&T Construction’s power transmission and distribution business secured orders worth Rs 571 crore while its building and factories segment bagged an order of Rs 514 crore. The company’s water and effluent treatment business also secured orders worth a,397 crore.

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