UPDATE: L&T Profit Declines 67% To Rs 1,819 Crore In September Quarter, Revenue Up 12%

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L&T Q2 Results: The company’s net profit declined 67 per cent to Rs 1,819 crore

The country’s leading infrastructure major Larsen & Toubro (L&T) announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 1,819 crore on a consolidated basis, compared to Rs 5,520 crore in the corresponding period last year, marking a decline of 87 per cent yar-on-year.

The company’s revenue from operations in the second quarter of the current fiscal stood at Rs 34,773 crore, compared to Rs 31,034.74 crore, registering a growth of 12 per cent year-on-year.

”The increase is attributed to project execution momentum with easing of regional lockdowns on progressive vaccination coverage and industry leading growth in the IT&TS portfolio,” said L&T in a regulatory filing to the stock exchanges today.

The infrastructure conglomerate bagged orders worth Rs 42,140 crore during the September quarter, registering a growth of 50 per cent, compared to the corresponding quarter last year. The orders were received in segments such as metros, oil and gas, minerals and metal, rural water supply, public space, power transmission and distribution.

The international orders valued at Rs 22,116 crore during the quarter comprised 52 per cent of the total order inflow, according to the statement. The order book of the L&T group stood at Rs 3.3 lakh crore as on September 2021 – at near-record levels, with international orders having a share of 23 percent.

On Wednesday, October 27, shares of L&T settled 0.65 per cent lower at Rs 1,782.80 apiece on the BSE. Shares of L&T opened on the BSE at Rs 1,801, touching an intra day high of Rs 1,813, and an intra day low of Rs 1,775.12, throughout the trading session today.

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