Larsen & Toubro (L&T ) Ltd recorded a consolidated net profit of Rs. 3,395.3 crore, in Jul-Sep, up 5.4% from the year ago period, led by good performance in the infrastructure projects and manufacturing businesses of the company.
Consolidated revenue from operations for the reported quarter was at Rs. 61,555 crore, recording a year-on-year growth of 21%, with revenue from international projects during the quarter constituting 52% of the total revenues. Operating margin in Jul-Sep was at 10.3% as against 11.0% in the previous year.“We have delivered yet another quarter of strong financial performance despite the continuing global macroeconomic volatility.
The projects and manufacturing businesses of the company continue to perform well. We have a record order book Rs. 5 lakh crore plus that is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management,” said S.N. Subrahmanyan, Chairman and Managing Director, L&T, in a post earnings statement.
Consolidated orders for Jul-Sep quarter was at Rs. 80,045 crore, down 10% year-on-year, on account of a high base in the year ago period. International orders comprised 63% of the total order inflow. At the end of September, the consolidated order book stood at Rs. 5,10,402 crore.
“India’s growth story remains intact on the back of continued public capex spends and a visible recovery in private investments as well. We expect the Middle East Capex momentum to remain healthy,” added Subrahmanyan.
The company’s flagship infrastructure projects segment recorded revenues of Rs. 31,954 crore in Jul-Sep, up 30% year-on-year, with international revenues contributing 45% of the overall segmental revenue. Operating margin of the infrastructure projects segment in the quarter was at 6.0%, up from 5.4% in the year ago period, aided by improved project execution.
For the half year period (Apr-Sep) consolidated net profit was at Rs. 6,181 crore, up 8% year-on-year, while revenue was at Rs. 1,16,674 crore, up 18%.
