L&T Q3 Net Profit Rises 15.2% At ₹2,352 Crore

L&T Q3 Net Profit Rises 15.2% At ₹2,352 Crore

Engineering and construction giant Larsen & Toubro (L&T) on Wednesday reported a 15.2 per cent year-on-year (YoY) rise in its consolidated net profit at ₹2,352 crore for the third quarter ended December 2019, on the back of higher income. The company had reported ₹2,041 crore profit in the same quarter last year.

The company won orders worth ₹41,579 crore at the group level during the quarter ended December 2019, amid subdued business environment.
Consolidated Gross Revenue grew 6 per cent on a year-on-year to ₹36,243 crore from continuing operations for the quarter ended December 31, 2019. International revenue during the quarter at ₹12,871 crore constituted 36 per cent of the total revenue.

Consolidated order book of the group stood at ₹3.06 lakh crore as at December 31, 2019, posting a growth of 8 per cent over December 2018.

“Order inflows are robust despite deferrals in order booking and we have revenue visibility for the next 24-30 months. International markets grew at a faster pace versus the domestic market. We are hopeful that growth momentum for infra segment will come back in coming quarters,” said R Shankar Raman, CFO L&T.

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    Neelam Jaiswal is a former editor of Ub News and has a lot of experience in business news. She is managing business news on My Office Hub. Reach her on neelam@myoffice-hub.com

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