Larsen & Toubro Q3 profit jumps 24% to Rs 2,553 crore; revenue up 17%

Larsen & Toubro (L&T) on Monday reported a 24.24 per cent year-on-year (YoY) rise in net profit at Rs 2,552.92 crore for the December quarter compared with Rs 2,054.74 crore in the same quarter last year. Revenue for the quarter came in at Rs at Rs 46,390 crore, up 17 per cent, aided by improved execution in the Infrastructure Projects segment and continued growth momentum in the IT&TS portfolio, the company said.

International revenues for the quater stood at Rs 17,317 crore, contributing 37 per cent to the total revenue.

The company said it received orders worth Rs 60,710 crore at the group level for the quarter, up 21 per cent YoY.  During the quarter, orders were received across multiple segments like oil & gas, public spaces, hydel & tunnels, irrigation systems, ferrous metals and power transmission & distribution. International orders stood at Rs 15,294 crore for the quarter and accounted for 25 per cent of the total order inflow, L&T said.

The consolidated order book of the group stood at Rs 3,86,588 crore as on December 31, with international orders having a share of 26 per cent.

"There is visible tax buoyancy in the country today enabling the government to pursue its targeted capex plans. The PLI schemes of the government are expected to incentivise private players, both domestic and foreign, to set up manufacturing facilities in an environment of improving demand conditions and business confidence. Lastly, the relatively stable financial system will facilitate disbursement of credit towards investment programmes in the future," L&T said.

L&T said major private capex investments are likely in energy transformation, emerging tech, healthcare, logistics, industrial parks, data centres etc. which augurs well for the EPC and construction business

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