L&T Q3 net profit misses on moderate order growth
1 min read . Updated: 30 Jan 2023, 04:37 PM IST
PremiumThe consolidated revenue from operations rose by 17 per cent to ₹46,390 crore
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.
