L&T Q2 results | Adjusted profit grows 56% to Rs 1,723 crore, order inflow up 50%

Asia's Tech News Daily

Larsen & Toubro, #Results

Larsen & Toubro, the engineering and infrastructure major, has clocked a 56 percent year-on-year growth in consolidated adjusted profit at Rs 1,723 crore in the September 2021 quarter, driven by higher profits in the IT&TS portfolio and improved margins from the projects & manufacturing portfolio as the coronavirus-induced stress in previous periods progressively wanes.

The profit excluded exceptional items and discontinued operations. In the year-ago period, the profit was boosted by one-time gain on divestment of electrical and automation business to Schneider Electric, France, the company said on October 27.

The company’s consolidated revenue was at Rs 34,773 crore, registering a 12 percent YoY growth. “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,” it said.

L&T bagged orders worth Rs 42,140 crore during the quarter, registering a robust growth of 50 percent over the corresponding period in the previous year.

“Orders were received in various segments like oil & gas, metros, rural water supply, minerals and metal, public space and power transmission and distribution,” said the company, adding international orders at Rs 22,116 crore comprised 52 percent of the order inflow.

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