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.