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Business News/ Companies / Company Results/  L&T Q3 net profit misses on moderate order growth
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L&T Q3 net profit misses on moderate order growth

The consolidated revenue from operations rose by 17 per cent to ₹46,390 crore

L&T construction won ordersin the range of ₹ 1,000 crore - ₹ 2,500 crore (Mint)Premium
L&T construction won ordersin the range of 1,000 crore - 2,500 crore (Mint)

Larsen and Turbo on Monday reported 24 per cent rise in consolidated profit to 2,553 crore for the quarter ended December 2022. This is against a net profit of 2,055 crore in the year ago period.

The consolidated revenue from operations rose by 17 per cent to 46,390 crore aided by improved execution in the infrastructure projects segment and continued growth momentum in the IT&TS portfolio.. It includes international revenues during the quarter at 17,317 crore which constituted 37 per cent of the total revenue.

The company received orders worth 60,710 crore at the group level during the quarter ended December 2022, registering a growth of 21 per cent over the corresponding quarter of the previous year.  International orders stood at 15,294 crore during the- December quarter comprised 25 per cent of the total order inflow.

The consolidated order book of  Larsen and Turbo (L&T) was at 386,588 crore for the quarter, with international orders having a share of 26 per cent.

The infrastructure projects segment secured order inflows of 32,530 cror, recording a growth of 28 per cent during the December 2022 quarter. The segment order book stood at 278,967 crore, with the share of international orders at 22%.

The energy projects segment secured orders valued at 9,051 crore recording a growth of 12 per cent during the December 2022 quarter. The segment order book stood at 72,000 crore, with the share of international orders at 50%.

During the quarter, L&T Infotech Limited and Mindtree Limited successfully completed their merger and started operating as a merged entity viz. LTIMindtree Limited.

"The segment recorded customer revenues of 10,517 crore for the quarter ended December 31, 2022, registering a y-o-y growth of 25%, reflecting the continuing demand for tech-enabled services," L&t in its filing.

The company's scrip was down by 2.11 per cent to 2,114.60 on BSE.

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Published: 30 Jan 2023, 04:22 PM IST
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