L&T net profit rises 5 pc to Rs 3,395 cr in Sep qtr

New Delhi, Oct 30 (PTI) Infrastructure major Larsen and Toubro (L&T) on Wednesday posted a 5 per cent rise in consolidated profit after tax to Rs 3,395 crore in the September 2024 quarter on account of higher income.

The company's consolidated profit after tax stood at Rs 3,223 crore in the year-ago period, L&T said in a regulatory filing.

"The company for the quarter ended September 30, 2024, posted a consolidated Profit After Tax (PAT) of Rs 3,395 crore, registering a growth of five per cent compared to the corresponding quarter of the previous year," the filing said.

During the period under review, its consolidated income rose to Rs 62,655.85 crore from Rs 52,157.02 crore in the year-ago period.

Its expenses in the September quarter increased to Rs 57,100.76 crore against Rs 47,165.95 crore a year ago.

"We have delivered yet another quarter of strong financial performance despite the continuing global macro economic volatility. The projects and manufacturing businesses of the company continue to perform well. We have a record order book of Rs 5 lakh crore-plus that is a testimony of our proven competence in the domains of engineering, construction, manufacturing and project management," its Chairman and Managing Director S N Subrahmanyan said.

Addressing the media post Q2 results, R Shankar Raman, President, whole-time Director and CFO of the company, said the order execution has been robust and added that the environment for the order inflow remains to be encouraging.

He further said that the domestic orders which remained in the first half of the current financial year is expected to pick up momentum in H2.

The company received orders of Rs 80,045 crore at the group level during the quarter ended September 2024, registering a sequential growth of 13 per cent and a Year-on-Year degrowth of 10 per cent.

The corresponding quarter of the previous year had the benefit of receipt of two international ultra-mega orders in the hydrocarbon business.

During the quarter, multi-geography orders were received across different segments like renewables, transmission and distribution, roads and runways, urban transit, nuclear power, hydel and tunnel, minerals and metals, factories, precision engineering and the offshore vertical of hydrocarbon business.

International orders at Rs 50,083 crore during the quarter comprised 63 per cent of the total order inflow.

Additionally, Raman said the Hyderabad Metro continues to improve ridership and the company is working on ways to further improve ridership.

L&T is a USD 27 billion Indian multinational engaged in engineering, procurement and construction (EPC) projects, hi-tech manufacturing and services, operating across multiple geographies. PTI SID SID SHW