L&T Q3 net profit rises 24 pc to Rs 2,552.92 cr

Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday reported a 24.2 per cent rise in consolidated net profit at Rs 2,552.92 crore for the quarter ended December 31, 2022 on the back of higher revenue from operations.

The company had posted consolidated net profit of Rs 2,054.74 crore in the year-ago period, L&T said in a regulatory filing.

The consolidated revenue from operations of the company in the October-December period increased to Rs 46,389.72 crore, over Rs 39,562.92 crore in the year-ago period.

''Larsen & Toubro achieved consolidated revenues of Rs 46,390 crore for the quarter ended December 31, 2022 recording a Y-o-Y growth of 17 per cent, aided by improved execution in the infrastructure projects segment and continued growth momentum in the information and technology and technology services (IT&TS) portfolio,'' the company said.

The company received orders worth Rs 60,710 crore at the group level during the quarter ended December 31, 2022, registering a growth of 21 per cent over the corresponding quarter of the previous year.

During the quarter, orders were received across multiple segments like oil and gas, public spaces, hydel and tunnels, irrigation systems, ferrous metals and power transmission and distribution.

Larsen & Toubro is an Indian multinational company engaged in engineering, procurement and construction (EPC) projects, hi-tech manufacturing and services.

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