L&T posts strong Q3 earnings

L&T posts strong Q3 earnings

EPC major Larsen and Toubro (L&T) announced its Q3 earnings on Monday said its consolidated net profit rose 4.87 per cent to ₹2,466.71 crore compared to ₹2,352.12 crore in the same quarter last year.

Analysts had projected a net profit at ₹1,699 crore. Revenue from operations decreased 1.78 per cent year-on-year to ₹35,596.42 crore from ₹36,242.68 crore reported in the year ago quarter.

The company said it received the highest-ever orders in a quarter, thanks to the receipt of many large contracts including the biggest EPC contract in the country ever – the High Speed Rail order.

With this, the orders for the quarter soared 76 per cent over the corresponding quarter of the previous year and stood at ₹73,233 crore. International orders during the quarter constituted 14 per cent of the total order inflow.

The consolidated order book of the Group stood at a record ₹3,31,061 crore as of December 31, 2020, registering growing 9 per cent over the March 2020 level.

L&T joins other heavyweights such as Reliance, Wipro, HCL, TCS and Infosys in posting strong Q3 earnings.

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