Home >Companies >Company Results >L&T Q3 profit rises 15% to 2,352 crore; misses estimates
Shares of Larsen & Toubro lost 0.64% to close at Rs1294.25 on BSE, while the benchmark index, Sensex lost 0.50% to close at 41115.38 points.
Shares of Larsen & Toubro lost 0.64% to close at Rs1294.25 on BSE, while the benchmark index, Sensex lost 0.50% to close at 41115.38 points.

L&T Q3 profit rises 15% to 2,352 crore; misses estimates

  • The Company successfully won new orders worth 41,579 crore during the quarter ended December 31, 2019,
  • Shares of Larsen & Toubro lost 0.64% to close at Rs1294.25 on BSE, while the benchmark index, Sensex lost 0.50% to close at 41115.38 points

MUMBAI : Engineering and construction major Larsen & Toubro (L&T) on Wednesday posted a 15.2% year-on-year (YoY) rise in net profit at 2,352 crore for the quarter ended December 2019 against 2,041.62 crore for the corresponding quarter last year on large value order wins in Power Transmission a Distribution and Metallurgical and Material Handling business.

Profit was lower than 2404 crore estimated by a Bloomberg poll of 11 analysts.

The Company successfully won new orders worth 41,579 crore during the quarter ended December 31, 2019, amid subdued business environment. International orders during the quarter at 17,901 crore increased to 43% of the total order inflow.

Net Profit from continuing operations for the quarter ended December 31, 2019 at 2,161 crore registered growth of 13.8% over the corresponding quarter of the previous year.

Consolidated Gross Revenue of 36,243 crore from continuing operations for the quarter ended December 31, 2019, a growth of 6% on a year-on-year basis. The International revenue during the quarter at 12,871 crore constituted 36% of the total revenue. Consolidated Order Book of the group stood at 3.06 trillion as at December 31, 2019, posting a growth of 8% over December, 2018.

Infrastructure Segment secured orders worth 28,115 crore, during the quarter ended December 31, 2019, a growth of 28% compared to previous year. Order wins were mainly in Power Transmission Et Distribution business, Industrial water systems, Network management system and Freight facility package.

Power Segment recorded customer revenue of 694 crore during the quarter ended December 31, 2019, posting a decrease of 23% on year-on-year basis, a depleted opening order book and the new awards yet to pick up execution momentum.

Shares of Larsen & Toubro lost 0.64% to close at Rs1294.25 on BSE, while the benchmark index, Sensex lost 0.50% to close at 41115.38 points.

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