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Business EconomyPosted at: Jul 24 2024 7:05PM


L&T net up 12 pc at Rs 2786 cr in Q1; Top line grows 15 pc

New Delhi, July 24 (UNI) Engineering and construction major Larsen & Toubro (L&T) on Wednesday reported first quarter’s financial performance saying its Profit After Tax (PAT) has grown 12 per cent y-o-y to Rs 2786 crore as against Rs 2493 crore in the April-June quarter of 2023-24.
L&T achieved Consolidated Revenues of Rs 55,120 crore for the quarter ended June 30, 2024 registering a y-o-y growth of 15 percent with robust execution witnessed in the Projects & Manufacturing (P&M) portfolio on the back of a large order book.
International revenues during the quarter at Rs 26,248 crore constituted 48 percent of the total revenues, the company said in a press statement.
Further, the Company received orders worth Rs 70,936 crore at the group level during the quarter ended June 30, 2024, registering a y-o-y growth of 8 percent aided by the strong ordering momentum in the Middle East. During the quarter, orders were received across multiple segments like Offshore vertical of Hydrocarbon business, Renewables, Transmission & Distribution, Roads, Nuclear Power, Hydel & Tunnel, Ferrous Metals, Health, and the Precision Engineering sectors.
International orders at Rs 32,598 crore during the quarter comprised 46 percent of the total order inflow, it said.
The consolidated order book of the group as on June 30, 2024, is at Rs 490,881 crore registering growth of 3 percent over Mar’24 and 19 percent y-o-y, with the share of international orders at 38 per cent.
Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said “We have achieved steady growth across all financial parameters in Q1 FY 2024-25, despite the geopolitical situation across the globe. Amidst various transformational shifts happening worldwide, we are well-positioned to grasp these opportunities with our expertise in our traditional P&M business and technology driven new-age businesses.
“The Financial Services portfolio has achieved a remarkable transformation into Retail Finance with improved profitability. To enhance our presence in the Semiconductor sector, we have recently entered into a share purchase agreement with SiliConch Systems, a Bengaluru based chip design company,” he added.
The Infrastructure Projects segment secured order inflow of Rs 40,053 crore, during the quarter ended June 30, 2024, which is in line with the previous year. International orders constituted 49 percent of the total order inflow of the segment during the quarter. The segment order book stood at Rs 324,879 crore as on June 30, 2024, with the share of international orders at 28 percent.
The Energy Projects segment secured orders valued at Rs 8,792 crore during the quarter ended June 30, 2024, registering a healthy growth of 21 percent on y-o-y basis with receipt of high value orders in the domestic Offshore vertical of Hydrocarbon business. International order inflow constituted 22 percent of the total order inflow during the quarter.
The segment order book was at Rs 117,724 crore as on June 30, 2024, with the international order book constituting 76 percent.
Hi-Tech Manufacturing Segment, IT & Technology Services (IT&TS), Financial Services and Development Projects Segments also contributed to the top line of the company.
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Tags: #L&T net up 12 pc at Rs 2786 cr in Q1; Top line grows 15 pc
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