Larsen & Toubro’s Net Profit Declines 17% to ₹2,055 Crore

larsen and toubro

Mumbai: Larsen & Toubro achieved Consolidated Revenues of ₹39,563 crore for the quarter ended December 31, 2021, registering a y-o-y growth of 11%.

The increase reflects an improving project execution momentum and robust growth in the IT&TS portfolio. International sales during the quarter at ₹14,541 crore constituted 37% of the total revenue.

Also read: L&T Wins Offshore Contract from ONGC

For the nine-month ended December 31, 2021, the Consolidated Revenues at ₹ 103,671 crore recorded a y-o-y growth of 18% with international revenues during the nine-month period at ₹38,045 crore constituting 37% of the total.

The Consolidated Net Profit After Tax for the quarter ended December 31, 2021 at ₹2,055 crore, registered a decline of 17% over the corresponding quarter of the previous year, which had an instance of a sale of commercial property in Realty business and gain on divestment from discontinued operations of the Electrical & Automation business.

For the nine-month ended December 31, 2021, Consolidated Net Profit After Tax at ₹5,049 crore declined by 39% y-o-y since the corresponding period of the previous year included the one-time gain on divestment of the Electrical & Automation business.

Adjusted for exceptional items and profit from discontinued operations, the Consolidated Net Profit After Tax for nine-month period ending December 31, 2021 is ₹4,952 crore vis-à-vis ₹3,548 crore for corresponding previous year, registering a growth of 40%.

The company bagged orders worth ₹50,359 crore during the quarter ended December 31, 2021, registering decline of 31% over the corresponding period of the previous year, since the previous year had the benefit of the Company securing the biggest ever EPC contract for Mumbai Ahmedabad High Speed Rail in the Infrastructure segment.

During the quarter, orders were received in various businesses viz Hydrocarbon Offshore, Metros, Rural Water Supply, Minerals and Metal, Public Space, Health Infrastructure and Power Transmission and Distribution.

The International orders at ₹20,521 crore during the quarter comprised 41% of the total order inflow, with receipt of large value international orders in Hydrocarbon Offshore.

On a cumulative basis, the order inflow for the nine-month ended December 31, 2021 stood at ₹119,056 crore, registering decline of 5% over the corresponding period of the previous year. International orders at ₹51,683 crore during the nine-month period constituted 43% of the total.

The consolidated order book of the group was at ₹340,365 crore as on December 31, 2021, at record levels, with international orders having a share of 24%.

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