L&T’s consolidated PAT for Apr-Jun at Rs. 2,493, up 46% YoY – ET Infra


L&T

NEW DELHI: Engineering and construction major Larsen & Toubro Ltd reported a consolidated net profit of Rs. 2,493 crore in Apr-Jun, up 46.5% year-on-year.

“Robust PAT (profit after tax) growth delivered on the back of improved activity levels and further aided by treasury operations,” L&T stated in its investors’ presentation.

Consolidated revenues for Apr-Jun stood at Rs. 47,882 crore, recording a year-on-year growth of 33.5%, primarily aided by execution of a healthy opening order book in the group’s projects and manufacturing portfolio.

L&T’s consolidated sales, administration and other expenses mostly remained flat year-on-year in Apr-Jun at Rs. 2,361 crore, while other income rose 65% year-on-year to Rs. 1,145.6 crore.

“We closed the quarter with an all-round performance. Capex buoyancy in India & GCC (Gulf Cooperation Council) is providing the much-needed tailwinds for growing our ‘Projects & Manufacturing’ portfolio, ably supported by the resilient performance of the ‘Services’ businesses,” said S. N. Subrahmanyan, Chief Executive Officer & Managing Director, Larsen & Toubro, in a post earnings statement.

“The Q1FY24 (Apr-Jun) performance is on the back of robust topline and bottom-line growth, supported by excellent balance sheet management, resulting in improved return ratios,” he added.

L&T secured consolidated orders worth Rs. 65,520 crore during the quarter, registering an year-on-year growth of 57%. Consolidated order book stood at Rs. 4,12,648 crore as on June end with international orders having a share of 29%.

L&T’s flagship Infrastructure Projects segment recorded revenues of Rs. 22,058 crore during the quarter, registering a growth of 56% year-on-year, led by improved execution momentum witnessed across various projects. The segment’s order book stood at Rs. 3,01,159 crore as on June end.

The Energy Projects segment recorded revenues of Rs. 6,682 crore during the quarter, registering a growth of 32% year-on-year mainly due to execution ramp up in international projects in the hydrocarbon business, L&T said. The segment’s order book was at Rs. 72,870 crore as on June end.

  • Published On Jul 26, 2023 at 01:20 AM IST

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