L&T Q1 profit rises 46%

Larsen & Toubro Profit Jumps 51% To 1028 Crore In Q1

Larsen & Toubro Profit Jumps 51% To 1028 Crore In Q1

Engineering conglomerate Larsen and Toubro (L&T) on Friday reported a surge of 46 per cent in its consolidated profit after tax (PAT) for the first quarter (Q1) ended June 30.

"The company won new orders worth Rs 26,352 crore at consolidated level during the quarter ended June 30, 2017 in a challenging business environment", L&T said in a statement.

Analysts on average had expected a net profit of Rs 927 crore, according to Thomson Reuters data.

Newsletter has been successfully subscribed.

The company's total income in the quarter under review increased 9.89 per cent to Rs 24,374.64 crore as against Rs 22,179.59 crore a year ago. Worldwide orders at ₹7,885 crore constituted 30% of the total order inflow. Worldwide order book constituted 26% of the total order book, L&T said.

In its outlook, the company said global markets continued to witness a low-growth trajectory and lower investment outlay as a natural effect of fiscal pressures faced by regulatory authorities in different countries. Worldwide orders contributed to 30% of the total order inflow of the segment during the quarter.

Shares in L&T closed 1.96 per cent lower at Rs 1,159.10 on the BSE. The bulk of the orders during the quarter were secured in the infrastructure segment. Consolidated order book of the group stood at Rs 2,62,860 crore as on June 30, 2017, marginally higher by 2% (YoY).

During the period, gross revenue rose 10% to ₹23,990 crore.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.