L&T Q2 PAT up 26% to Rs 2,819 cr on higher revenue from ops

NEW DELHI: Engineering and construction major Larsen & Toubro (L&T) on Monday reported a 26 per cent rise in consolidated net Profit After Tax (PAT) at Rs 2,819.20 crore for the quarter ended September on the back of higher revenue from operations.

The company had posted a consolidated net PAT of Rs 2,231.33 crore in the year-ago period, L&T said in a filing to BSE.

The consolidated revenue from operations increased by 22.9 per cent to Rs 42,762.61 crore from Rs 34,772.90 crore in the July-September quarter a year ago, the filing added.

The company recorded orders worth Rs 51,914 crore at the group level during the July-September period, registering a growth of 23 per cent over the corresponding period of the previous fiscal.

During the second quarter, the company bagged orders across various sectors like public spaces, nuclear power, irrigation and renewables. Of the total order inflow, international orders were worth Rs 17,341 crore.

The consolidated order book of the group stood at Rs 372,381 crore as on September 30, 2022.

On the outlook, the company said L&T’s strategy of focusing on projects, hi-tech manufacturing and IT services in a fast changing global business environment is likely to provide improved returns to all its stakeholders.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services.