Infrastructure major Larsen and Toubro (L&T) on Tuesday reported consolidated net profit of Rs 3,223 crore in the September quarter. This is higher by 45% compared with Rs 2229 crore reported in the corresponding quarter of the previous year.The profit was higher than the ET Now Poll estimate of Rs 2,858 crore.Consolidated revenues for the second quarter rose 19% to Rs 51,024 crore, primarily aided by improved execution of the large order book and accelerated progress in the projects and manufacturing portfolio.
L&T: HDFC Institutional Equities, which sees L&T Q2 profit rising 30 per cent YoY, said even as the government capex and initiatives and Middle East hydrocarbon ordering have shown momentum, private capex is yet to show its best.
Consolidated revenues for the second quarter rose 19% to Rs 51,024 crore, primarily aided by improved execution of the large order book and accelerated progress in the projects and manufacturing portfolio. Energy segment recorded revenues of Rs 6,788 crore in the second quarter, up 22% year-on-year. Order inflows were at Rs 40,141 crore, taking the segment s order book past Rs 1 lakh crore for the first time ever.
L&T said its consolidated revenues for the quarter came in at Rs 42,763 crore up 23 per cent YoY, thanks to execution tailwinds in the infrastructure projects segment and sustained growth momentum in the IT&TS portfolio.