L&T Q2: Consolidated net profit rises by 22.5% to ₹2,229 cr | Mint
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Business News/ Companies / Company Results/  L&T Q2: Consolidated net profit rises by 22.5% to 2,229 cr

L&T Q2: Consolidated net profit rises by 22.5% to ₹2,229 cr

The consolidated revenue increased nearly 23 per cent YoY to ₹42,763 crore

L&T classifies orders worth ₹1,000 crore to ₹2,500 crore as significant.Premium
L&T classifies orders worth 1,000 crore to 2,500 crore as significant.

Larsen & Toubro (L&T) on Monday reported consolidated net profit of 2,229 crore for the quarter ending September 30, 2022. This is an increase of nearly 22.5 per cent from 1819.45 crore in the corresponding quarter of last year.

The consolidated revenue increased nearly 23 per cent YoY to 42,763 crore for the period under review as compared 34772.90 crore in the year-ago period.

International revenues during the quarter was at 15,473 crore constituted 36 per cent of the total revenue.

L&T consolidated order intake rose 23 per cent during the quarter to 51,914 crore, of which international markets constituted 33 per cent of the total order inflow. The growth in the topline was led by strong execution in the mainstay infrastructure segment and sustained growth momentum in the IT and technology services portfolio, the company said.

The consolidated order book of the group was at 372,381 crore as on September end, with international orders having a share of 28 percent.

The company's infrastructure projects segment secured order inflows of 25,058 crore, during the quarter, registering growth of more than 100 per cent. The segment recorded customer revenues was up by 39 per cent to 19,370 crore for the quarter ended September 30, 2022.

The hi-tech manufacturing segment secured orders valued at 1,768 crore during the quarter registering a growth of 62 per cent YoY. The segment posted customer revenues of 1,456 crore for the quarter.

The IT & Technology Services (IT&TS) segment recorded customer revenues of 10,151 crore for the quarter, up by 29 per cent YoY.

“Large value private sector investments that was set for a major revival, may get delayed due to the persisting geopolitical and global economic turbulence," the engineering behemoth said in the release. It believes that the global economic outlook is clouded by major downside risks, but remains confident of the domestic market. “...visibility of a continuing domestic consumption demand augurs well for new investments," L&T said.

L&T shares rose by 2.5 per cent to settle at 2,023.95 apiece on BSE.

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Published: 31 Oct 2022, 05:05 PM IST
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